Question
On January 2, 2020, Vaughn Manufacturing began the construction of a new citrus processing plant. The automated plant was finished and ready for use on
On January 2, 2020, Vaughn Manufacturing began the construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows:
January 2, 2020 | $ 613000 |
September 1, 2020 | 1804800 |
December 31, 2020 | 1804800 |
March 31, 2021 | 1804800 |
September 30, 2021 | 1195000 |
Vaughn Manufacturing borrowed $3400000 on a construction loan at 13% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $11900000 in 10% bonds outstanding in 2020 and 2021. What were the weighted-average accumulated expenditures for 2020?
$2999800
$1827600
$1515400
$1214600
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started