Sandhill Co. incurred the following costs during 2018: In its income statement f

Question

Sandhill Co. incurred the following costs during 2018:

In its income statement for the year ended December 31, 2018, Sandhill should report research and development expense of

A) 703,000

B) 1,030,000

C) 849,000

D) 884,000

Significant modification to the formulation of a chemical product $156000 Trouble-shooting in connection with breakdowns during commercial production 146000 Cost of exploration of new formulas 196000 Seasonal or other periodic design changes to existing products 181000 Laboratory research aimed at discovery of new technology 351000

Explanation / Answer

Significant modification to the formulation of a chemical product 156000 Cost of exploration of new formulas 196000 Laboratory research aimed at discovery of new technology 351000 Research and development expense total 703000 Option A is correct

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