Question 1 The following costs relating to Direct Material (DM) and Conversion (CONV) and the TOTAL Equivalent Units and the total Complete number of units completed are shown for a production department: Marked out of 10 DM CONV Total Total costs $1,600,000 $2,600,000 $4,200,000 Total Equivalent units: 80000 65000 Units completed were: 50000 Calculate and enter the value (amount) for the CLOSING WORK IN PROCESS (WIP) below