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What the amount of research and development costs charged

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Question - Nicole Corporation incurred research and development costs in 2019 as follows:

Materials used in research and development projects P200,000

Equipment acquired that will have alternative future uses in research and development projects 1,000,000

Depreciation for 2017 on above equipment 250,000

Personnel costs of persons involved in research and development projects 500,000

Consulting fees paid to outsiders for research and development projects 50,000

Indirect costs reasonably allocable to research and development projects 100,000

P2,100,000

What the amount of research and development costs charged to Nicole Corporation's 2019 Income statement?

a. P1,750,000

b. P1,100,000

c. P1,850,000

d. P1,500,000

Reference no: EM132952255

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