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What is the total amount to be classified

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Question - ABC Company incurred the following costs during the year ended December 31, 2015:

Laboratory research aimed at discovery of new knowledge $230,000

Costs of testing prototype and design modifications $75,000

Quality control during commercial production, including routine testing of products $270,000

Construction of research facilities having an estimated useful life of 6 years but no alternative future use $360,000

What is the total amount to be classified and expensed as research and development in 2015? Be sure to display your calculations in detail.

Reference no: EM132064502

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