THIS MUST BE IN WEIGHTED AVERAGE METHOD!

Problem 10-10 Interest capitalization; weighted-average method [LO10-7] On January 1, 2018, the Mason Manufacturing Company began construction of a bulding to be used as its office headquarters. The building was completed on September 30, 2019 Expenditures on the project were as follows: January 1, 2818 March 1, 2818 June 30, 2818 October 1, 2818 January 31, 2819 April 3e, 2819 August 31, 2019 $1,00,800 68e,8e8 88e,888 68e,888 27e,888 585,8e8 9ee,888 On January 1, 2018, the company obtained a $3 million construction loan with a 10% interest rate. The loan was outstanding all of 2018 and 2019. The company's other Interest-bearing debt Included two long-term notes of $4,000,000 and $6,000,000 with Interest rates of 6% and 8%, respectively. Both notes were outstanding during all of 2018 and 2019, Interest is paid annually on all debt The company's fiscal year-end is December 31 Requlrec 1. Calculate the amount of Interest that Mason should capitalize In 2018 and 2019 using the welghted-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