Short format video can vary greatly depending upon the complexity of your final piece. Being well organized with script, storyboard and graphic elements will definitely maximize your effectiveness in the editing room.
As a rule of thumb, for long-format video, you should expect your production to run a thousand dollars per finished minute or more. All the elements to be considered for your production – script development, storyboarding, site scouting, permitting, talent, music, graphic design, editing – these are all factors which will affect your final budget.