The standard cost card for a product indicates that one unit of the product requires 8 kilograms of a raw material at $0.80 per kilogram.The production of the product in April was 870 units, but production had been budgeted for 850 units.During April, 8, 200 kilograms of the raw material were purchased for $6, 888 and 7, 150 kilograms of the raw material were used in production.The material variances for April were: 
Definitions:
Net Income
The total profit of a company after all expenses and taxes have been deducted from total revenue.
Income Statement
A financial statement that shows a company's revenues, expenses, and net income over a specific period of time.
Cash Dividends
Payments made by a corporation to its shareholders from its profits in the form of cash.
Financing Activities
Transactions related to raising capital and repaying investors, including debt, equity, and dividends.
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