During 2011, Leon Co.incurred the following costs: In Leon's 2011 income statement, research and development expense should be

Name: During 2011, Leon Co.incurred the following costs: In Leon's 2011 income statement, research and development expense should be
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Question

During 2011, Leon Co.incurred the following costs:  In Leon's 2011 income statement, research and development expense should be

Quizplus · Accepted Answer

The total costs incurred by Leon Co. for R&D in 2011 is the sum of materials and equipment costs, salaries and wages, and overhead costs, which is $935,000 + $300,000 + $50,000 = $1,285,000. Therefore, the correct answer is C).