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Calculating the Direct Materiaks Price Variance and the Direct Materials Usage Variance Guiltermo's Oil and Lube Company is a service company that offers of changes and lubrication for automobiles and light trucks. On average. Gualermo has found that a typical oil changet takes 22 minutes and 6.2 auarti of oit are used. tn land, Guilermo's Oit and lube hau 900 oil changes. Guillerma's of and tube Compeny provided the following inforruation for the production of oil changes during the month of June: Actual number of oil changes pertormed: 900 Actual number of quarts of oll used: 6,580 quarts Actual price paid per quart of oil $5.30 Standard price per quart of oil $5,25 Reaguired: 1. Calculate the direct materials pice varlance (MDN) and the direct materiats usage variance (MUV) for Jane using the formula aperoach. 1f required, round your answers to the nearest cent. Mry Mut 1 2. Calculate the total direct materiaks variance for oil for June. If required, round your answer to the nearest cent. 3. What if the actual number of quarts of oll purchased in June had been 6,530 quarts, and the materials price variance was calculated at the time of purchase? If required, round your answers to the nearest cent. Hequired: 1. Calculate the direct materials price variance (MPV) and the direct materials usage variance (MUM) for lune using the formula approach. If required, round your answers to the nearest cent. MIP MuY 2. Calculate the total direct materials variance for bil for lune. If recuired, reund your answer to the nearent cent. 3. What if the actual number of quarts of oil purchased in June had been 6,530 quarts, and the materials price variance was calculated at the time of purchase? If required, round your answers to the nearest cent. What would be the materials price variance (MPV)? What would be the materials usage variance (MUV)