Calculating the Direct Labor Rate Variance and the Direct Labor Efficiency Variance Guillermo's Oil and Lube Company is a service company that offers oll changes and lubrication for automoblles and light trucks. On average, Guillermo has found that a typical oil change takes 18 minutes and 6.2 quarts of oil are used. In June, Gulliermo's Oil and Lube had 960 oil changes. Guilermo's Oil and Lube Company provided the following information for the production of ol changes during the month of June: Actual number of oll changes performed: 960 Actual number of direct labor hours worked: 280 hours Actual rate paid per direct labor hour: $16.00 Standard rate per direct labor hour: $15,00 Required: 1. Calculate the direct labor rate variance (LRV) and the direct labor efficiency variance (LEV) for June using the formula approach. Direct labor rate variance (LRV) Direct labor efficiency variance (LEV) $ 2. Calculate the direct iabor rate variance (LAV) and the direct labor efficiency variance (LEV) for June. Direct labor rate variance (LRV) is Direct labor efficiency variance (LEV) s 3. Calculate the total direct labor variance for oil changes for June. 4. What if the actual wage rate paid in June was $14.007 What impact would that have had on the direct labor rate variance (LRV)? On the direct labor efficiency varlance (LEV? Indicate what the new variances would be below. If required, round your answers to the nearest cent. Direct labor rate variance (LRV): Direct labor efficiency variance (LEV)