Create a budget for the Bright Lights Awards using the following information: We have been allocated a budget of $25,000 and there will be 2500 people in attendance. The theme for the ceremony is The Great Gatsby Gala and we decided to book the Westin Habour Castle Conference Centre in Downtown Toronto for the event, which will cost $2000 for 8 hours on the evening of Saturday 6 April. We have hired an event planner who will plan and provide everything from deorations, flowers and to contractors according to our theme for all the set up and have received an invoice of $5000 for his services. Our trusted and regular Caterer has charged us $10,000 for food and snacks for the ceremony. For entertainment, we've hired a jaz band for $500 to play music for the ceremony and have created slideshows in celebration of all achieved this year and have asked one of our committee members to MC the event. To save costs, we will use the company drones for videography and photographs and have just hired 3 photographers for a total of $1600. We've finally allocated $1400 for alcohol and drinks

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter3: Cost Behavior
Section: Chapter Questions
Problem 38P: Friendly Bank is attempting to determine the cost behavior of its small business lending operations....
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Create a budget for the Bright Lights Awards using the following information:

We have been allocated a budget of $25,000 and there will be 2500 people in attendance. The theme for the ceremony is The Great Gatsby Gala and we decided to book the Westin Habour Castle Conference Centre in Downtown Toronto for the event, which will cost $2000 for 8 hours on the evening of Saturday 6 April. We have hired an event planner who will plan and provide everything from deorations, flowers and to contractors according to our theme for all the set up and have received an invoice of $5000 for his services. Our trusted and regular Caterer has charged us $10,000 for food and snacks for the ceremony. For entertainment, we've hired a jaz band for $500 to play music for the ceremony and have created slideshows in celebration of all achieved this year and have asked one of our committee members to MC the event. To save costs, we will use the company drones for videography and photographs and have just hired 3 photographers for a total of $1600. We've finally allocated $1400 for alcohol and drinks

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