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On January 5, Faye Co. began construction of a small building. The following expenditures were incurred for construction: January 5 $250,000 March 1 300,000 June

On January 5, Faye Co. began construction of a small building. The following expenditures were incurred for construction:

January 5 $250,000
March 1 300,000
June 1 540,000

The building was completed and occupied on June 30.

To help pay for construction, $200,000 was borrowed on January 3rd on a 12%, three-year note payable. The only other debt outstanding during the year was a $500,000, 10% note issued two years ago. Fayes fiscal year end is June 30.

Calculate the weighted-average accumulated expenditures.

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