On March 1, Metlock Co. began construction of a small building. The following expenditures were incurred for construction:
March 1 $283,200
April 1 288,000
May 1 784,800
June 1 1,036,800
July 1 382,000
The building was completed and occupied on July 1. To help pay for construction $189,000 was borrowed on March 1 on a 12%, three
year note payable. The only other debt outstanding during the year was a $2,011,000, 10% note issued two years ago.
(a)
Calculate the weighted-average accumulated expenditures.
The weighted-average accumulated expenditures $