Read the "Accounting in the Headlines"file about the cost of a fashion show in NYC. Read the article fromBusiness Insider. Review the questions and then answer the two questions

Read the "Accounting in the Headlines" file about the cost of a fashion show in NYC. Read the article from Business Insider. Review the questions and then answer two questions What assumptions go into preparing a budget for a New York Fashion Week show? In a recent news article in Business Insider, estimates of the various costs associated with putting on a show during New York Fashion Week were listed. These cost estimates are listed below: Rent $0 to $100,000 Hair and makeup: $0 to $100,000 Stylist: $5,000 to $20,000 Public relations: $10,000 to $20,000 Models: $0 to $200,000 Lighting: $10,000 and higher Invitations: $5,000 and higher Requirements 1. Prepare a budget for an imaginary fashion show at New York Fashion Week. Select an estimate for each cost within the range given. Justify each estimate by describing the assumptions you are making about your imaginary fashion show. You can refer to theoriginal article in Business Insider for additional information about the costs. 2. How much is your imaginary show budgeted to cost? Compare the budgeted cost of your imaginary show to the budgeted cost of another student in the class. What assumptions differed between you and the other student? Page 1, Copyright 2014 by Dr. Wendy Tietz, http://accountingintheheadlines.com/ This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License