Dimitri Co. is engaged in a number of Research and Development projects: PROJECT ALPHA:...
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Dimitri Co. is engaged in a number of Research and Development projects:
PROJECT ALPHA: A project to develop a new process which will save time in the production of widget. This project was started on 1st January 2018 and met the capitalization criteria on 31st August 2018
PROJECT BETA: A project to investigate the properties of a chemical compound
PROJECT CHARLIE: A development project which was completed on 30th June 2018. Related cots in the Statement of Financial Position at the start of the year were $290000. Production and sells of the new product commenced on 1st September and are expected to last 36 months
Costs for the year ended 31st December 2018 are as follows:
Project A $34000
Project B costs to 31st August $78870
Project B costs from 31st August $27800
Project C costs to 30th June $19800
What amount is expensed to the statement of Profit or Loss in respect of these projects in the year ended 31st December 2018?
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