E12.17 (LO 5) (Accounting for R&D Costs) Martinez Company incurred the following costs during 2022 in connection with its research and development activities. Cost of equipment acquired that will have alternative uses in future R&D projects over the next 5 years (uses straight- line depreciation) Materials consumed in R&D projects $330,000 59,000 Consulting fees paid to outsiders for R&D projects 100,000 Personnel costs of persons involved in R&D projects 128,000 Indirect costs reasonably allocable to R&D projects 50,000 Materials purchased for future R&D projects 34,000 Instructions Compute the amount to be reported as research and development expense by Martinez on its income statement for 2022. Assume equipment is purchased at the beginning of the year and economic viability has not been achieved.

a Determine cost of plant acquisitions. E9.1 (LO 1), C Writing The following expenditures relating to plant assets were made by Glenn Company during the first 2 months of 2022. 1. Paid $7,000 of accrued taxes at the time the plant site was acquired. 2. Paid $200 insurance to cover a possible accident loss on new factory machinery while the machinery was in transit. 3. Paid $850 sales taxes on a new delivery truck. 4. Paid $21,000 for parking lots and driveways on the new plant site. 5. Paid $250 to have the company name and slogan painted on the new delivery truck. 6. Paid $8,000 for installation of new factory machinery. 7. Paid $900 for a 2-year accident insurance policy on the new delivery truck. 8. Paid $75 motor vehicle license fee on the new truck. Instructions a. Explain the application of the historical cost principle in determining the acquisition cost of plant assets. b. List the numbers of the transactions, and opposite each indicate the account title to which each…

Question 14: Based on the wage-bracket method, the federal income tax withholding for an employee who is married, is paid biweekly, completed the pre-2020 Form W-4, claims 2 federal withholding allowances, and earns $1,899 is $

Candalibra Company incurred the following costs during the year ended December 31, 2018: Laboratory research aimed at discovery of new knowledge $300,000 Costs of testing prototype and design modifications (economic viability not achieved) 55,000 Quality control during commercial production, including routine testing of products 210,000 Construction of research facilities having an estimated useful life of 12 years but no alternative future use 440,000 What is the total amount to be classified and expensed as research and development in 2018 under U.S. GAAP? 79

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35.During 2021, King Co. incurred the following costs: Testing in search for process alternatives          720,000 Costs of testing prototype and design  modifications                                                    500,000 Modification of the formulation of a process 1,220,000 Research and development services performed by Queen Corp. for King                  650,000 In King's 2021 statement of profit or loss, research and development expense should be     1,220,000 1,870,000 2,590,000 3,090,000

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Sunland Corporation, which uses straight-line depreciation and amortization, incurred the following costs in 2026: Acquisition of R&D equipment with a useful life of 4 years in R&D projects (no salvage) $996000 Cost of making minor modifications to an existing product Advertising expense to introduce a new product 146000 760000 Engineering costs incurred to advance a product to full production stage 860000 What amount should Sunland report as research & development expense in 2026? O $1109000 O $1192000 O $1952000 $1620000

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