During 2021, Blossom Co. incurred the following costs: Testing in search for process alternatives $390000 Costs of marketing research for new product 260000 Modification of the formulation of a process 570000 Research and development services performed by Crane Corp. for Blossom 485000 In Blossom's 2021 income statement, research and development expense should be

Question

01-06-2021
Business

Answered

Get the information you need quickly and easily with IDNLearn.com. Our experts provide timely, comprehensive responses to ensure you have the information you need.

During 2021, Blossom Co. incurred the following costs: Testing in search for process alternatives $390000 Costs of marketing research for new product 260000 Modification of the formulation of a process 570000 Research and development services performed by Crane Corp. for Blossom 485000 In Blossom's 2021 income statement, research and development expense should be

Sagot :

Thank you for contributing to our discussion. Don't forget to check back for new answers. Keep asking, answering, and sharing useful information. Thank you for visiting IDNLearn.com. For reliable answers to all your questions, please visit us again soon.

The Start-up Cost To Join ETunes Music Is $7.95 Plus $0.95 Per Song Downloaded. If Will Spent $26, Write And Solve A Linear Equation To Find How Many Songs He D

The Arizona State Supreme Court’s Conviction Of Ernesto Miranda, Was Overturned By The United States Supreme Court Because

Bob Needs To Mix 2 Cups Of Liquid Lemonade Concentrate With 3.5 Cups Of Water To Make Lemonade. Bob Has 6 Cups Of Lemonade Concentrate. How Much Lemonade Can S

Do You Think That Trying To Assimilate Native Americans Into White Society Was A Good Idea?

Two Of The Main Events That Fueled The Start Of The French Revolution Were The Enlightenment And The ? I Know Its The Age Of Science I Read And Such But Im Thin

Florida Can Establish A Trade Treaty With Mexico True False

Socrates Was Sentenced To Death By Jury Of Athenian Citizens Mainly Because Why?

What Did The Nineteenth Amendment To The US Constitution Do? It Gave Women The Right To Inheritance. It Allowed Women To Take Up Factory Jobs. It Sped Up Divorc

Which Italian City Conquered Greece And Adopted Many Greek Ways?

The Question Is : Tina's Science Teacher Shines A Lazer Onto A Screen .it Is Brighter Than The White Light From The Laboratory Lights. Use Your Ideas About Freq

Ayokenny2001idn Ayokenny2001idn · Answer 1 · 2021-06-02T20:14:53-04:00

Answer:

See below

Explanation:

Given the above information, our concern when calculating amount of research and development costs charged to Blossom corp. for 2021 should be the period cost. This means costs that are incurred in the period under review. I.e 2021.

= Testing in search for process alternative + Cost of marketing research + Modification of formulation of a process + Consulting fees

= $390,000 + $260,000 + $570,000 + $485,000

= $1,705,000

Therefore, Blossom's 2021 income statement , research and development expense should be $1,705,000.

Sagot :

Other Questions