Winkle Company incurred R&D costs in 2022 as follows: Equipment acquired in multiple R&D projects...
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Accounting
Winkle Company incurred R&D costs in 2022 as follows: Equipment acquired in multiple R&D projects $ 1,500,000 Depreciation on the equipment 250,000 Materials used 325,000 Wages and salaries of the R&D personnel 650,000 Outside consulting fees 125,000 Appropriately allocated indirect costs 275,000 What are the total R&D expenses to be reported on Winkle's 2022 income statement?
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