On March 1, Mocl Co. began construction of a small building. The following expenditures were incurred for construction:
March 1 $ 150,000 April 1 $ 148,000
May 1 360,000 June 1 540,000
July 1 200,000
The building was completed and occupied on July 1. To help pay for construction $100,000 was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a $1,000,000, 10% note issued two years ago.
Instructions
Calculate the weighted-average accumulated expenditures.