Calculate the amount of weighted-average accumulated

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Reference no: EM133346007

Question: During the current year, Lammer, Co. began work on a self-constructed asset. Lammer incurred the following costs related to construction of the asset.

Date Expenditure

1/1 $80,000

4/1 $320,000

7/1 $250,000

10/1 $300,000

12/1 $150,000

Lammer borrowed $150,000 directly for this project on 1/1. The interest rate on that borrowing was 5%. Lammer had additional borrowings outstanding during the year of $400,000 at 6% and $900,000 at 10%.

Calculate the amount of Weighted-Average Accumulated Expenditures for the year

Calculate the amount of interest that should be capitalized as part of the self-constructed asset for the year

Reference no: EM133346007

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