Polaco Corporation makes a product that has the following direct labor standards: Standard direct labor-hours 0.4 hours per unit Standard direct labor rate $ 24.00 per hour In May the company produced 8,500 units using 3,220 direct labor-hours. The actual direct labor rate was $22.10 per hour. The labor rate variance for May is:

Suppose that, on the basis of a nation’s production possibilities curve, an economy must sacrifice 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9,000 pizzas. now consider the following statement: “through international specialization and trade, a nation can reduce its opportunity cost of obtaining goods and thus ‘move outside its production possibilities curve.’”