Given the following information for a one-year project, answer the following questions. Recall that PV is the planned value. EV is the earned value, AC is the actual cost, and BAC is the budget at completion.PV = $23,000EV = $20,000AC = $25,000BAC = $120,000a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?A. Cost Variance is calculated as EV-AC and indicates the difference between the budgeted cost and the actual cost of completed work.B. Cost Variance = EV-AC = $20,000 – $25,000 = - $ 5,000C. Schedule Variance is calculated as EV-PV and indicates the degree to which the value of completed work differs from that planned.D. Schedule Variance = EV-PV = $20,000 - $23,000 = -$ 3,000E. Cost Performance Index (CPI) = EV/AC = 20,000/25,000 = 0.8 or 80%F. Schedule Performance Index = EV/PV = 20,000 / 23,000 = 0.87 or 87%