Given an activity in a smartphone design project whose planned cost was $13,000 but actual cost to date is $12,000 so far, and whose value completed is only 80%, calculate the cost and schedule variances. Will the client be pleased or angry? AC = $12,000 EV = $13,000 (.80) = $10,400 PV = $13,000 Cost variance (CV) = EV AC = Schedule variance (SV) = EV - PV =