Use the Following Information for Questions
on March 1

Multiple Choice

Use the following information for questions
On March 1, 2007, Dennis Company purchased land for an office site by paying $540,000 cash.Dennis began construction on the office building on March 1.The following expenditures were incurred for construction: $$\begin{array} { l r } \text { Date } & \text { Expenditures } \\\hline \text { March } 1,2007 & \$ 360,000 \\\text { April } 1,2007 & 504,000 \\\text { May 1, } 2007 & 900,000 \\\text { June } 1,2007 & 1,440,000\end{array}$$ The office was completed and ready for occupancy on July 1.To help pay for construction, $720,000 was borrowed on March 1, 2007 on a 9%, 3-year note payable.Other than the construction note, the only debt outstanding during 2007 was a $300,000, 12%, 6-year note payable dated January 1, 2007.
-The weighted-average accumulated expenditures on the construction project during 2007 were

A) $384,000.
B) $2,934,000.
C) $312,000.
D) $696,000.