The following materials standards have been established for a particular product:
The following data pertain to operations concerning the product for the last month: 
What is the materials quantity variance for the month?
Definitions:
Economic Factors
Elements outside the business that affect its performance, including inflation, unemployment, economic growth, and exchange rates.
Foreign Currency Fluctuations
Variations in the value of one currency compared to another, which can impact international trade and investments.
Inflation
The rate at which the general level of prices for goods and services is rising, eroding purchasing power.
Income Distribution
The way in which a nation’s total income is spread among its population.
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