That is COLD MIX asphalt and should ONLY be used for a temporary fix or in VERY small holes, it has an additive in it that keeps it from hardening as much as HOT MIX will.
Hot Mix isn't that hard to use, but, you need to know a few fairly simple things that are VITAL.
1 Wear BOOTS preferably old boots, but, sturdy boots.
2 Everything you wear will be indelibly stained.
Find a source of hot mix, be prepared to pay $50 to $80 per ton.
Find a supplier of SS1, also known as Bitch Maul, it makes the old asphalt adhere to the new.
Sweep the hole out as dry and clean as possible.
Dip your (about to be thrown away) broom in the SS1 and liberally brush it on to the old asphalt.
Shovel in the Hot Mix (It's 325 degrees or so, so be careful or be burned...) until there is a slight hump over the top of the hole.
Tamp the asphalt down, until it is level keep people and vehicles off it for a day or so.
Viola, asphalt repair made simple.