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Calculate the weighted-average accumulated expenditures

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Question - On March 1, Brookmeadow Corp. began construction of a small building. The following expenditures were incurred for construction:

Mar. 1 $ 75,000

Apr. 1 84,000

May 1 180,000

June 1 300,000

July 1 100,000

The building was completed and occupied on July 1. To help pay for construction, $ 60,000 was borrowed on March 1 on a 10%, three-year note payable. The only other debt outstanding during the year was a $ 500,000, 8% note issued two years ago.

Required -

1. Calculate the weighted-average accumulated expenditures.

2. Calculate avoidable interest.

Reference no: EM132564946

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