Puvo, Incorporated, manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor$-$hours. The company uses a standard cost system and has established the following standards for one unit of product:

$\backslash$table$[[,$Standard,,$],[,$Quantity,Standard Price or Rate,Standard Cost$],[$Direct materials,$2\mathrm{.}0$ pounds,$$4\mathrm{.}75$ per pound,$$9\mathrm{.}50$