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Posted: January 26th, 2023

MD University College ACCT 310 310 GHI Co. incurred research and development costs in 2015 as follows:

GHI Co. incurred research and development costs in 2015 as follows:Materials used in research and development projects $ 650,000Equipment acquired that will have alternate future uses in future research and development projects 3,000,000Depreciation for 2015 on above equipment 500,000Personnel costs of persons involved in research and development projects 750,000Consulting fees paid to outsiders for research and development projects 300,000Indirect costs reasonably allocable to research and development projects 225,000$5,425,000 The amount of research and development costs charged to GHI’s 2015 income statement should be?

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