Chong Corporation recently prepared a flexible budget for water usage at its manufacturing plant. Budgeted water cost at various projected production levels is as follows: 50,000 units 75,000 units 90,000 units $ 16,500 18,500 19,700 Actual units produced amounted to 60,000. Actual cost incurred for water usage was $17,000. What was Chong's cost variance for water? $2,800 favorable. $3,000 unfavorable. $9,000 favorable. $25,200 favorable. None of the answers is correct