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What is total cost that be part of operating expense

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Question - Beech Company made the following expenditures relating to Product FG.

Legal cost to file a patent on Product FG. Production of the finished product would not have been undertaken without the patent - 25,000

Special equipment to be used for development of Product FG. The equipment has an estimated useful life of four years - 200,000

Labor and material costs incurred in producing a prototype model - 750,000

Cost of testing the prototype - 78,000

Trouble shooting breakdown during production - 38,000

Cost of routine on-going effort to refine, enrich or improve quality of Product FG - 86,000

Required -

1. What is the total cost that should recorded as research and development cost?

2. What is the total cost that should be part of Intangible assets?

3. What is the total cost that should be part of operating expense?

Reference no: EM132595252

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