Leeper Corporation Incurred the Following Costs in 2008 What Amount Should Leeper Record as Research & Development Expense

question 40

Multiple Choice

Leeper Corporation incurred the following costs in 2008: $\begin{array}{lr} \text {Acquisition of } R \& D \text { equipment with a useful life of }\\\text { 4 years in R\&D projects } & \$ 800,000 \\\text { Start-up costs incurred when opening a new plant } & 140,000 \\\text { Advertising expense to introduce a new product } & 700,000 \\\text { Engineering costs incurred to advance a product to full } & \\\quad \text { production stage } & 500,000\end{array}$ What amount should Leeper record as research & development expense in 2008?

• A)$700,000
• B)$840,000
• C)$1,300,000
• D)$1,540,000

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