TABLE 6. Wheat, flood-irrigated, budgeted per acre costs and returns for a 640 acre farm
with above average management, Dell City area, 2001.
Planting dates: August 15 - September 15
Harvesting dates: July 15 - July 15
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
WHEAT $3.00 35.00 CWT $105.00
ASCS DEFICIENCY $0.77 35.00 CWT $26.95
ASCS DIVERSION $0.00 $0.00
GRAZING $25.00 1.00 ACRE $25.00
_______
TOTAL $156.95
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PURCHASED FIXED
PURCHASED INPUTS PRICE QUANTITY INPUTS COST TOTAL
--------- ------ ----- ----------- ------ ----- ------
SEED $0.11 150 LBS $16.50 $16.50
ANHYDROUS (NH3) $0.2000 125 LBS $25.00 $25.00
LIVESTOCK FAC & EQUIP $5.00 $5.00
PUMP WATER* 25 AC. IN. $0.00
CROP INSURANCE $0.29 $0.29 ______ $0.29
SUBTOTAL $41.79 $5.00 $46.79
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL
---------- ---------- -------------- ----------- --------- ----- ----- ------- ----- ------
DISC 155 HP 0.14 HR $1.06 $1.92 $0.89 $3.03 $6.90
ANHYDROUS APPL 155 HP 0.20 HR $7.00 $1.51 $2.75 $0.94 $3.67 $15.87
DISC 155 HP 0.14 HR $1.06 $1.92 $0.89 $3.03 $6.90
DRILL 93 HP 0.12 HR $0.91 $1.13 $0.78 $3.39 $6.20
IRRIGATE (5X) 2.50 HR $16.88 $49.07 $1.00 $12.98 $79.92
_________ ______ ______ ______ ______ ______ ______
SUBTOTAL 3.10 HR $7.00 $21.41 $56.79 $4.51 $26.10 $115.81
HARVEST OPERATIONS
------- ----------
COMBINE (CUSTOM) $26.00 $26.00
______ ______ ______ ______ ______ ______
SUBTOTAL $26.00 $0.00 $0.00 $0.00 $0.00 $26.00
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.15 HR $1.13 $1.13
EMPLOYEE BENEFITS $3.85 $3.85
INSURANCE $0.43 $0.43
LAND TAXES $2.97 $2.97
SUPERVISION AND MANAGEMENT $13.79 $13.79
OTHER EXPENSES $53.75 $53.75
_________ ______ ______ ______ ______
SUBTOTAL 0.15 HR $54.18 $18.77 $2.97 $75.92
--------- ------- ------ ------ ------ ------ -------
TOTAL OPERATING EXPENSES 3.25 HR $128.97 $40.18 $56.79 $4.51 $34.07 $264.52
NET OPERATING PROFIT ($107.57)
INTEREST ON OPERATING CAPITAL ( $36.22 @ 9.00%) $3.26
INTEREST ON EQUIPMENT INVESTMENT $9.62
RETURN TO LAND AND RISK ($120.46)
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* Pump water costs are shown under irrigation in the preharvest operations section.
BUDGET SUMMARY
GROSS RETURN $156.95 VARIABLE OPERATING EXPENSES $190.28 RETURN OVER VARIABLE EXPENSES ($33.33) (GROSS MARGIN) FIXED EXPENSES $34.07 NET FARM INCOME ($67.40) (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $40.18 NET OPERATING PROFIT ($107.57) (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $12.89 RETURN TO LAND AND RISK ($120.46) ===================================================================================================