Scrooge and Zilch, a public accounting firm in London, is engaged in the preparation of income tax returns for individuals. The firm uses the weighted average method of process costing for internal reporting. The following information pertains to February. ( denotes the British monetary unit, pounds sterling.) 460 1,220 500 Returns in process, February 1: (36% complete) Returns started in February Returns in process, February 28: (75% complete) Returns in process, February 1: Labor Overhead Labor, February (5,127 ours) Overhead, February 4,000 5,000 128,175 60,310 *Although the euro is used in most European markets, day-to-day business in the United Kingdom continues to be conducted in pounds sterling. Required: 1. Compute the following amounts for labor and for overhead: a. Equivalent units of activity. b. Cost per equivalent unit. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Compute the total equivalent units of activity for labor and for overhead. Total Equivalent Units of Activity Labor Overhead 2. Compute the cost of returns in process as of February 28. Cost of returns in process