Research Corp At July 31, 2021, Research Corp

Multiple Choice

Research Corp., a publicly accountable entity, incurred the following costs in its research and development division: $$\begin{array} { | l | r | r | } \hline & \text { Jan 1 - July 31, 2021 } & \text { Aug 1- Dec. 31, 2021 } \\\hline \text { Materials } & 10,000 & 12,000 \\\hline \text { Labour costs } & 15,000 & 32,000 \\\hline \text { Directly attributable overhead } & 8,000 & 15,000 \\\hline\end{array}$$ At July 31, 2021, Research Corp. determined that the project was technically feasible and commercially viable. Research Corp. had sufficient resources and intentions to complete the project and was confident that there was demand in the marketplace for the product. How much, if any, of the costs can be capitalized for fiscal 2021?

A) $0
B) $44,000
C) $59,000
D) $92,000