The Metallurgical Specialty Co.deals strictly with four customers.The average amount each customer pays per month along with the collection delay associated with each payment is shown below.Given this information,what is the weighted average delay? Assume each month has 30 days.

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Total monthly collections = $287,000 + $416,000 + $139,000 + $233,000 = $1,075,000Weighted average delay = [($287,000/$1,075,000) × 4] + [($416,000/$1,075,000) × 1] + [($139,000/$1,075,000) × 1] + [($233,000/$1,075,000) × 3] = 2.23 days