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 staridards for one unit of product:

$\backslash$table$[[,$Standard Quantity,Standard Price or Rate,Standard Cost$],[$Direct materials,$6\mathrm{.}50$ pounds,$$1\mathrm{.}30$ per pound,$$8\mathrm{.}45$