Matt Lab Berhad's main activities are research and development. Currently, it develops a chemical formula for cleaningmaterials. The prototype is near completion. The cost of the project is as follows:Cost of Materials: RM250,000Consultant Fees: RM75,000Fees to register trade design: RM15,000Selling and administrative cost allocated: RM78,000Training cost to operate assets: RM36,000Depreciation of Equipment: RM20,000Required: Determine the cost of the development project that should be capitalized.Select one:O a. RM340,000Ob. RM360,000OC RM474.000d. RM396.000

Total manufacturing cost is the aggregate amount of cost incurred by a business to produce goods in…

Answered: Required: Determine the cost of the…

Business

Accounting

Required: Determine the cost of the development project that should be capitalized.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 7RE

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