On January 1, 2018, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2019. Expenditures on the project were as follows: anuary 1, 2018 $1,300,000 720,000 340,000 640,000 450,000 65,000 1,260,000 Harch,2018 June 30, 2018 Oetober 1, 2018 January 31, 2019 April 30, 2019 Aagust 31. 2019 On January 1,2018, the company obtained a $3 million construction loan with a 10% interest rate and 2ohs The company's other interest-bearing debt included two long-term notes of $4,400,000 and $6.400.000 with interest rates of and 10%, respectively. notes were outstanding during all of 2018 and 2019 Interest is paid annually on all debt. The company's Both outstanding du fiscal year-end is December 31 Required: 1. Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the weighted-average method. 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2018 and 2019 income statements Complete this question by entering your answers in the tabs below Req 1 and 3 Req 2 Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the weighted-average method and interest expense that will appear in the 2018 and 2019 income statements. (Do net round your intermediate calculations. Round your answers to the nearest whole dollar.) Interest captalized nterest expense
10 alculate the amount of interest expense that will appear in the 2018 and 2019 in Complete this question by entering your answers in the tabs below. Req 1 and 3 Req 2 What is the total cost of the building? (Do not round your intermediate calculations. Rour dollar.) Total cost of building Req 1 and 3 Req 2>