maxtor technology incurred the following costs during the year related to the creati 3384326

Maxtor Technology incurred the following costs during the year related to the creation of a new type of personal computer monitor: Salaries ………………………….. $220,000 Depreciation on R&D facilities and equipment …………… 125,000 Utilities and other direct costs incurred for the R&D facilities ……….. 66,000 Patent filing and related legal costs …………………. 22,000 Payment to another company for performing a portion of the development work . 120,000 Costs of adapting the new monitor for the specific needs of a customer …… 80,000 What amount should Maxtor report as research and development expense in its income statement?

 

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