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Posted: July 29th, 2024
MD University College ACCT 310 310 MNO Inc. incurred the following costs during the year ended December 31, 2015:
MNO Inc. incurred the following costs during the year ended December 31, 2015:Laboratory research aimed at discovery of new knowledge $230,000Costs of testing prototype and design modifications 75,000Quality control during commercial production, including routine testing of products 270,000Construction of research facilities having an estimated useful life of 6 years but no alternative future use 360,000The total amount to be classified and expensed as research and development in 2015 is?
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