Hall CoIncurred Research and Development Costs in 2007 as Follows

question 34

Multiple Choice

Hall Co.incurred research and development costs in 2007 as follows: $\begin{array} { l } \text {Materials used in research and development projects }&\$450,000\\ \text { Equipment acquired that will have alternate future uses in future research}&\\ \text { and development projects}&3,000,000\\ \text { Depreciation for 2007 on above equipment}&300,000\\ \text { Personnel costs of persons involved in research and development projects}&750,000\\ \text { Consulting fees paid to outsiders for research and development projects }&150,000\\ \text { Indirect costs reasonably allocable to research and development projects}&225,000\\&\$4,875,000\end{array}$
The amount of research and development costs charged to Hall's 2007 income statement should be

• A)$1,500,000.
• B)$1,650,000.
• C)$1,875,000.
• D)$4,050,000.

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Definitions:

Condensation Polymer

A type of polymer formed by the condensation reaction where two molecules combine with the elimination of a small molecule, often water, between them.

Lactam Monomers

The monomeric units that can polymerize to form polyamides, where the repeating units contain a lactam ring.

Polyamides

Synthetic polymers made by the linkage of amino acids or by the polymerization of monomers with amide bonds, used in textiles and plastics.

Polymer

Large molecules made up of repeating structural units known as monomers.