Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Gullermo's OAl and Lube Company is a service company that offers oll changes and lubrication for automobiles and light trucks. On average, Gullermo has found that a typical oil change takes 27 minutes and 6.4 quarts of oll are used. In June, Guillermo's oil and Lube had 950 oil changes. Guillermo's Oll and tube Compsny provided the following information for the production of oil ehanges during the manth of June: Actual number of oil changes performed: 980 Actual number of quarts of oil used: 6,900 quarts Actual price paid per quart of oll; $5,00 standard price per quart of oll: 54,95 Required: 1. Calculate the direct materials price variance (MPM) and the direct materials usage variance (MUV) for June using the formula approach, If required, round vour answers to the nearest cent: 2. Calculate the total direct materials variance for oi for June. If required, round your answer to the nearest cens. 3. What if the actual number of quarts of oll purchased in June had been 6830 quarts, and the materials price variance was calculated at the time of purchase? it required, round your answers to the nearest cent. What would be the materials price variance (MPV)? What would be the materials usage varlance (MUV)