eBook Calculator Calculating the Direct Materials Price Varlance and the Direct Materials Usage Vartlance Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication oil change takes 26 minutes and 6.2 quarts of oll are used. In June, Guillermo's Oll and Lube had ,000 oil changes. for automobiles and light trucks. On average, Guillermo has found that a typical Guillermo's Ol and Lube Company provided the following information for the production of oil changes during the month of June: Actual number of oil changes performed: 1,000 Actual number of quarts of oil used: 6,460 quarts Actual price paid per quart of oll: $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 (MUM for Jne 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. -323 Unfavorable -1,365 Unfavorable v -1,042x Favorable v umber of quarts of oil purchased in June had been 6400 quarts, and the materials price variance was calcuilated at the time of purchase? If required, round your answers to the nearest cent. what would be the materials price variance (MPV)? -320 V Unfavorable v What would be the materials usage variance (MUV)? 1,365 V Unfavorable v Previous Next