What the total research and development costs charge

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Equipment acquired for use in various research and development projects975,000 Sponge Co. incurred research and development costs in 20x1 as follows:

Depreciation on the above equipment 135,000

Materials used 200,000

Compensation costs of personnel 500,000

Outside consulting fees 150,000

Indirect costs appropriately allocated 250,000

Problem 1: The total research and development costs charge in Sponge's 20x1 statement of profit or loss should be:

Reference no: EM132744648

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