Calculating the Direct Matenais Price Varkance and the Direct Materiais Usage Variance Gullerma's oi and Lube Company is a service company that offers ail changes and lubrication for automobiles and light trucks, On average, Gullermo has found that a typical oil change takes 28 minctes and 6.4 quarts of oil are used. In June, Guiliermo's oil and tube had g60 oil changes. Guiliermo's ou and Lube Company previded the following informatbon for the production of oll chatges during the menah of June: Actual number of oil chanpes performed: 960 Actual number of quarts of ell used: 6,600 quarts Actual price paid per cuart of ol: $, 00 Standard price per quart of oll: $4.95 Requiredt 1. Calculate the direct materials price variance (MPN) and the direct maserials usage varance (MVM) for June usiog the formula approach. If required, round your answers to the nearest cent. MPN 1 MuN s 2. Cofcutate the total direct materials varance for of for lune. If required, round your anuwer to the nearest cent. 3. What if the actual number of quarts of ol purchased in Juse had been 6,550 guarts, and one matenals price variance was calculated at the time of purchase? If required, round your answers to the nearest cent. 3. What if the actual number of cuarts of oil purchased in June had been 6,550 cuarts, and the materials price variance was calculated at the time of purchase? If required, round your answers to the nearest cent. What would be the materials price variance (MPV)? 5 What would be the materiais usage variance (Hun