During 20X3, Ilvanor incurred the following expenditure: salaries of its laboratory researchers, 180,000; materials consumed in research work, 40,000; expenditure directly attributable to a development project incurred before the recognition criteria were met, 70,000; general administrative overheads of the head office, not directly attributable to these activities, 50,000; expenditure on the same project incurred after the criteria were met and recognised as an asset, 120,000. What amount of research and development expenditure recognised as an expense should Ilvanor disclose for 20X3?
- Researchers' salaries
- 180,000
- Materials consumed in research
- 40,000
- Development incurred before the recognition criteria were met
- 70,000
- General administrative overheads not directly attributable
- 50,000
- Development recognised as an asset after the criteria were met
- 120,000