Based on the following diagram of a simple processor illustrating both a memory read and write operation; describe the steps taken by the processor and the responses of the memory controller for each of these operations.

MemAddr 24 MemLe MemRd MemW OAddr IOL ORd VO subsystem1 Memory subsystem MemEnable 1 VO devices OEnable Processor IOR 32 OData MemData 32 VO Bus Memory Bus Clk Reset Status