A sponsor requests that the project team shorten the completion of a project by two months to give the sales team more leverage in renegotiating the contract with the client. The budgeted time is 500 hours, and the projected earned value is $30,000.

Which of the following represents the cost variance for both project completions?

A. -$4.8K and -$7K
B. -$4.9K and $7K
C. $4.8K and -$7K
D. $4.8K and $7K