Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Gullermo has found that a typical oil change takes 26 minutes and 6.2 quarts of oil are used. In June, Guillermo's Oil and Lube had 940 oil changes. Guillermo's Oil and Lube Company provided the following information for the production of of changes during the month of June Actual number of all changes performed: 940 Actual number of quarts of all used: 6,020 quarts Actual price paid per quart of alt: $5.30 Standard price per quart of oil: $5.25 Required: 1. Calculate the direct materials price variance (MPV) and the direct materials usage variance (MUV) for June using the formula approach. If required, round your answers to the nearest cent. MPV MUV 2. Calculate the total direct materials variance for oil for June. If required, round your answer to the nearest cent. 3. What if the actual number of cuarts of oil purchased in June had been 5930 quarts, and the materials price variance was calculated at the time of purchase? required, round your answer to the nearestent What would be the materials price variance (MPV)? What would be the materials usage variance (M/? BOOK MPV 1. Calculate the direct materials price variance (MPV) and the direct materials usage variance (MUV) for June using the formula approach. If required, round your ans to the nearest cent. Unfavorable MUV Unfavorable 2. Calculate the total direct materiais variance for all for June. If required, round your answer to the nearest cent. Unfavorable 3. What If the actual number of quarts of oil purchased in June had been 5930 quarts, and the materials price variance was calculated at the time of purchase? required, round your answers to the nearest cent. What would be the materials price variance (MPV)7 Unfavorable What would be the materials usage variance (MUV Unfavorable