(Answered) Question - ball co incurred research and development costs

Accounting

Question - Ball Co. incurred research and development costs in 2004 as follows:

Material used in research and development projects $540,000

Equipment acquired that will have alternate future uses in future research and development projects $4,600,000

Depreciation for 2004 on above equipment $360,000

Personnel costs of persons involved in research and development projects $660,000

Consulting fees paid to outsiders for research and development projects 180,000

Indirect costs reasonably allocable to research and development projects 270,000

Total: $6,610,000

The amount of research and development costs charged ago Ball's 2004 income statement should be

a) 1,560,000

b) 1,740,000

c) 1,010,000

d) none of the above.

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