Reference no: EM132744503
Problem - During 2019, ABC Inc. incurred costs to develop and produce a routine, low-risk computer software product as follows:
Completion of detailed program design or working model P1,300,000
Cost incurred for coding and testing to establish technological feasibility 1,000,000
Other coding costs after establishment of technological feasibility 2,400,000
Other testing costs after establishment of technological feasibility 2,000,000
Costs of producing product masters for training materials 1,500,000
Duplication of computer software and training materials from product master 2,500,000
Packaging product 900,000
Required - Compute for the amount to be capitalized as intangible assets.
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