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Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Guillermo's oll and Lube Company is a service company that offers oil changes

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Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Guillermo's oll and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 20 minutes and 6.4 quarts of oil are used. In June, Guillermo's oil and Lube had 920 oil changes. Guillermo's Oil and Lube company provided the following information for the production of oil changes during the month of June: Actual number of oil changes performed: 920 Actual number of quarts of all used: 6,620 quarts Actual price paid per quart of olt: $5.00 Standard price per quart of oll: $4.95 Required: 1. Calculate the direct material price variance (MP) and the direct materials usage variance (MUV for Sune using the formula approach. If required round your answers to the nearest cent $ MPV Unfavorable -331 5 MUV Unfavorable -3,623 X 2. Calculate the total direct materials variance for all for June. If required, round your answer to the nearest cent S Unfavorable 3. What if the actual number of quarts of all purchased in June had been 6540 quarts, and the materials price variance was calculated at the time of Previous Next 3. What if the actual number of quarts of all purchased in June had been 6540 quarts, and the materials price variance was calculated at the time of purchase? If required, round your answers to the nearestent, What would be the materials price variance (MPV) 327 Unfavorable What would be the materials usse variance (UV) Anfavorable

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