Pioli Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows:

$\backslash$table$[[$Inputs$,\backslash$table$[[$Standard Quantity or$],[$Hours$]],$Standard,Price or Rate,Standard Cost$],[$Direct materials,$1\mathrm{.}7$ kilos,$$4\mathrm{.}00,$per kilo,$$6\mathrm{.}80$