Gupta Inc. uses the weighted-average method in its process costing. The following data concern the company's Mixing Department for the month of December. 
Required:
Compute the cost per equivalent unit for materials and conversion for the Mixing Department in December.
Definitions:
Elastic
A term used in economics to describe a situation where the quantity demanded or supplied of a good is sensitive to changes in its price.
Price Elasticity
An indicator showing the demand for a good's responsiveness to its price alterations.
Consumer Purchases
Transactions in which individuals buy goods or services for personal use or consumption.
Elastic Demand
A market condition where the quantity demanded of a good or service significantly changes in response to changes in its price.
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