Ruby Inc.'s standards call for 4 direct labor hours per unit at $15 per hour. During June, the company actually worked 1,250 direct labor hours and produced 300 units. Ruby's actual cost for labor was $17,500. What is the direct labor efficiency variance for Ruby Inc.?

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.’”