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4 Cards in this Set
- Front
- Back
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What items are NOT considered Research and Development cost?
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a. Routine periodic design changes--troubleshooting in production stage (manufacturing costs)
b. Marketing research c. quality control testing d. reformulation of a chemical compound |
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When is technological feasibility established?
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Upon completion of...
1. a detailed program design, or 2. completion of a working model. |
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When capitalizing costs for software developed internally after the preliminary project state...what upgrads and enhancements should also be included in capitalized costs?
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1. direct costs of materials and services
2. costs of employees directly associated with project, and 3. interest costs incurred for the project. |
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How is gross profit/loss recongnized each period when using percentage-of-completion method?
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Step 1: Compute Gross profit
Contract price - est. total price Step 2: Compute % of completion Gross Profit / Total costs to date Step 3: compute gross profit earned (profit to date) Step 1 x Step 2 Step 4: compute grosss profit earned for current year PTD - PTD at beginning of period |
