Cullumber Company incurred research and development costs of $101000 and legal fees of $41000 to acquire a patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Cullumber record as Patent Amortization Expense in the first year

$14,200

Explanation:

Step 1 Determine the Cost of the Patent

Research and Development costs        $101000

Add legal fees                                         $41000

Total                                                         $142,000

Step 2 Determine Amortization Expense

Amortization Expense = Cost/ Useful life

                                     = $142,000/10 years

                                     = $14,200

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

answer (b); /// a method of measuring the opinions of a large group of people by selecting a subset of the larger group, asking them a set of questions and then generalizing those responses;