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Problem - Research and Development Costs In 2019, Lalli Corporation incurred R&D costs as follows:
Materials used from inventory $100,000
Personnel in R&D lab 100,000
Allocation of the cost of utilities and maintenance costs of the R&D facility 50,000
$250,000
These costs relate to a product that will be marketed in 2020. The company estimates that these costs will be recouped by December 31, 2020.
Required -
1. What is the amount of R&D costs expensed in 2019?
2. Would your answer change if the materials were purchased and not used or if the utilities and maintenance costs were related to the corporate offices?
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