Precision paper products produces both paper towels and paper napkins. the production process begins with the receipt and pulping of raw timber. once the timber is pulped, it is screened, rolled, and dried into large rolls of paper. at this point, half the paper is cut and folded into napkins, while the other half is cut, perforated, and rolled into towels. based on this description, which of the costs listed below would not be classified as a joint cost? a : the materials costs for the various chemicals involved in the pulping process. b : the direct labor costs associated with operation of the screening machine. c : the administrative costs associated with tracking and processing incoming timber shipments. d : the maintenance costs associated with the napkin folding machine.

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.