On March 1,PatriciaCo. began construction of a small building. The following expenditures were incurred for construction:

March 1 $315,000

April 1. 254,000

May 1. 751,500

June 1 1,152,000

July 1. 391,000

The building was completed and occupied on July 1. To help pay for construction $215,000was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a $2,000,000, 10% note issued two years ago.

Calculate the weighted-average accumulated expenditures.

Date. Expenditures CapitalizationPeriod WeightedAverageAccumulatedExpenditure

03/ 01. $315,000

04/01. 254,000

05/01. 751,500

06/01. 1,152,000

07/01. 391,000