What amount should wispelwey charge to patent amortization

Reference no: EM132700769

Problem 1: Wispelwey, Inc. incurred P816,000 of research and development costs in its laboratory to develop a patent which was granted on January 2, 2020. Additional costs of P152,000 were incurred in the registration of the patent. The estimated economic life of the patent is eight years. What amount should Wispelwey charge to patent amortization expense for the year ended December 31, 2020?

Reference no: EM132700769

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