A laboratory internally develops a patented process. Before the date on which the recognition criteria are first met, it incurred expenditure of 90,000. From that date, it incurs 80,000 of materials and services used, 150,000 of employee benefits for staff assigned to the project and 5,000 of fees to register the patent. A share of general administrative overheads of 20,000, with no direct link to the project, is also allocated to it. What is the cost of the intangible asset?
- Expenditure before the criteria date
- 90,000
- Materials and services used
- 80,000
- Employee benefits of staff on the project
- 150,000
- Patent registration fees
- 5,000
- Allocated general administrative overheads
- 20,000