Calculating the Direct Materials Price Variance and the Direct Mateials Usage Variance Guillermo's Oil and Lube Company is a service company that offers ol changes and lutirication for automobies and light trucks, On average, Guiliermo has found that a typical oil change takes 20 minutes and 6.6 quarts of oil are used. In June, Guallermo's oil and Lube had 940 oil changes. Guallermo's Oil and Lube Company provided the following information for the production of oil changes during the month of June: Actual number of od cfanges performed: 940 Actual number of quarts of oil used: 6,220 quarts Actual price paid per quart of ail: 55,20 standard arice per quart of ail: $5.10 Required: 1. Calculate the direct materiais price variance (MPV) and the direct naterials usage variance (MPMa) for aune using the formula approach. If reguired. round your answers to the nearest cent. 1. Calculate the direct materiais price variance (Mov) and the direct matetials usage variance (MiM) for June using the formula approach. If required. round your answers to the nearest cent. MEN5MuN 2. Calculate the total direct materials variance for oil for Jone. If required, round your answer to the nearest cent. 3. What of the actual number of quarts of oil purchased in Jone thad been 6160 quarts, and the materials grice variance was calculated at the timat of porchase? It requited, round your answers to the nearest cent. What would be the materials price variance \{Meyv)? What would be the thaterials urage variance (ANYV)