Final HW & Chp 18 1. CELADO CEXO 02 AGO 1 CEXO DE ALDO CEX 18 01ALOO Calculating Standard Quantities for Actual Production Guillermo's Oil 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 24 minutes and 6.2 quarts of oil are used. In June, Guillermo's Oil and Lube had 960 oil changes & CEX10 AOC Required: 1. Calculate the number of quarts of oil that should have been used (SQ) for 960 oil changes. quarts 2. Calculate the hours of direct labor that should have been used (SH) for 960 oil changes. direct labor hours 3. What if there had been 950 oil changes in June? Would the standard quantities of oil (in quarts) and of direct labor hours be higher or lower than the amounts calculated in Requirements 1 and 2? What would the new standard quantities be? Round your answers to two decimal places. SO Net PS