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,,$],[$Direct materials,Quantity,Standard Price or Rate,Standard cost$],[$Direct labor,$5\mathrm{.}8$ pounds,$$0\mathrm{.}60$ per pound,$$3\mathrm{.}48$