Blue Corporation, a manufacturing company, decided to develop a new line of merchandise. The project began in 2022. Blue had the following expenditures in connection with the project, all incurred in the U.S.: Salaries Materials Insurance Utilities Cost of inspection of materials for quality control Promotion expenses Advertising Equipment depreciation Cost of market survey Amount of the deduction 2022 2023 $500,000 $600,000 90,000 70,000 8,000 6,000 7,000 11,000 0 Amount of the deduction 15,000 8,000 The new product will be introduced for sale beginning in April 2024. If an amount is zero, enter "0". Calculate the monthly expense to the nearest dollar and use in subsequent computations a. Determine Blue Corporation's research and experimental expenditures for 2022 and 2023. 2022 2023 11,000 8,000 6,000 18,000 20,000 14,000 0 519,000 2022 b. Determine Blue Corporation's deduction for research and experimental expenditures for 2022 and 2023. 2023 703,000
Blue Corporation, a manufacturing company, decided to develop a new line of merchandise. The project began in 2022. Blue had the following expenditures in connection with the project, all incurred in the U.S.: Salaries Materials Insurance Utilities Cost of inspection of materials for quality control Promotion expenses Advertising Equipment depreciation Cost of market survey Amount of the deduction 2022 2023 $500,000 $600,000 90,000 70,000 8,000 6,000 7,000 11,000 0 Amount of the deduction 15,000 8,000 The new product will be introduced for sale beginning in April 2024. If an amount is zero, enter "0". Calculate the monthly expense to the nearest dollar and use in subsequent computations a. Determine Blue Corporation's research and experimental expenditures for 2022 and 2023. 2022 2023 11,000 8,000 6,000 18,000 20,000 14,000 0 519,000 2022 b. Determine Blue Corporation's deduction for research and experimental expenditures for 2022 and 2023. 2023 703,000
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter8: Revenue Recognition, Receivables, And Advances From Customers
Section: Chapter Questions
Problem 47P
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Please do not give solution in image format ?. And explain proper steps by Step.
![Blue Corporation, a manufacturing company, decided to develop a new line of merchandise. The project began in 2022. Blue had the
following expenditures in connection with the project, all incurred in the U.S.:
Salaries
Materials
Insurance
Utilities
Cost of inspection of materials for quality control
Promotion expenses
Advertising
Equipment depreciation
Cost of market survey
Amount of the deduction
2022
2023
$500,000 $600,000
90,000 70,000
8,000
11,000
6,000
8,000
7,000
6,000
11,000
18,000
0
Amount of the deduction
15,000
8,000
The new product will be introduced for sale beginning in April 2024.
If an amount is zero, enter "0". Calculate the monthly expense to the nearest dollar and use in subsequent computations.
a. Determine Blue Corporation's research and experimental expenditures for 2022 and 2023.
20,000
14,000
0
2022
519,000
2023
703,000
b. Determine Blue Corporation's deduction for research and experimental expenditures for 2022 and 2023.
2022
2023](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4385e2ca-8485-4310-b38e-9d03a6e64df2%2Fcb412aef-da3b-43bc-a1eb-e3a5c961315c%2Fcjwhie_processed.png&w=3840&q=75)
Transcribed Image Text:Blue Corporation, a manufacturing company, decided to develop a new line of merchandise. The project began in 2022. Blue had the
following expenditures in connection with the project, all incurred in the U.S.:
Salaries
Materials
Insurance
Utilities
Cost of inspection of materials for quality control
Promotion expenses
Advertising
Equipment depreciation
Cost of market survey
Amount of the deduction
2022
2023
$500,000 $600,000
90,000 70,000
8,000
11,000
6,000
8,000
7,000
6,000
11,000
18,000
0
Amount of the deduction
15,000
8,000
The new product will be introduced for sale beginning in April 2024.
If an amount is zero, enter "0". Calculate the monthly expense to the nearest dollar and use in subsequent computations.
a. Determine Blue Corporation's research and experimental expenditures for 2022 and 2023.
20,000
14,000
0
2022
519,000
2023
703,000
b. Determine Blue Corporation's deduction for research and experimental expenditures for 2022 and 2023.
2022
2023
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