TABLE 7. Wheat, sprinkler-irrigated, budgeted per acre costs and returns for a 600 acre farm with above
average management, Arch Hurley Conservancy District, Quay County, 2001.
Planting dates: August 15 - September 15
Harvesting dates: June 15 - July 10
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
WHEAT $3.00 40.00 BUSHELS $120.00
ASCS DEFICIENCY $0.46 40.00 BUSHELS $18.40
ASCS DIVERSION $0.00 $0.00
GRAZING $48.00 1.00 ACRE $48.00
______
TOTAL $186.40
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PURCHASED
PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL
--------- ------ ----- ----------- ----- -----
SEED $0.11 60 LBS $6.60 $6.60
NITROGEN (N) $0.42 80 LBS $33.60 $33.60
PHOSPHATE (P205) $0.39 20 LBS $7.80 $7.80
HERBICIDE $14.36 1 ACRE $14.36 $14.36
CANAL WATER: Assessment $7.00 1 ACRE $7.00 $7.00
Water $7.00 12 AC. IN. $7.00 $7.00
CROP INSURANCE $0.29 $0.29 $0.29
SUBTOTAL $76.65 $76.65
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR &OIL REPAIRS COST TOTAL
---------- ---------- -------------- ----------- --------- ----- ----- ------- ----- -----
CHISEL 145 HP 0.08 HR $0.60 $1.01 $0.64 $1.99 $4.25
DISC (2X) 145 HP 0.28 HR $2.11 $3.54 $1.85 $2.86 $10.36
FLOAT 145 HP 0.24 HR $1.81 $3.03 $1.23 $1.77 $7.84
FERT SPREADER 70 HP 0.05 HR $0.38 $0.26 $0.22 $0.57 $1.43
DRILL 70 HP 0.18 HR $1.36 $0.93 $0.89 $2.47 $5.65
IRRIGATE (8X) 0.80 HR $5.40 $15.02 $2.69 $3.02 $26.14
_________ ______ ______ ______ ______ ______
SUBTOTAL 1.63 HR $11.67 $23.80 $7.53 $12.67 $55.67
HARVEST OPERATIONS
------- ----------
COMBINE 18 FT 0.19 HR $1.43 $1.53 $26.02 $21.38 $50.37
HAUL 2T 0.19 HR $1.43 $1.69 $4.68 $5.99 $13.79
_________ ______ ______ ______ ______ ______
SUBTOTAL 0.38 HR $2.87 $3.22 $30.70 $27.38 $64.16
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.50 HR $1.88 $1.88
EMPLOYEE BENEFITS $2.18 $2.18
INSURANCE $0.05 $0.05
LAND TAXES $0.81 $0.81
SUPERVISION AND MANAGEMENT $9.32 $9.32
OTHER EXPENSES $32.45 $32.45
_________ ______ ______ ______ ______
SUBTOTAL 0.50 HR $32.50 $13.38 $0.81 $46.69
--------- ------ ------ ------ ------ ------ ------
TOTAL OPERATING EXPENSES 2.51 HR $109.15 $27.92 $27.02 $38.22 $40.86 $243.17
NET OPERATING PROFIT ($56.77)
INTEREST ON OPERATING CAPITAL ( $48.98 @ 9.00%) $4.41
INTEREST ON EQUIPMENT INVESTMENT $23.86
RETURN TO LAND AND RISK ($85.04)
=====================================================================================================================
BUDGET SUMMARY
GROSS RETURN $186.40 VARIABLE OPERATING EXPENSES $174.40 RETURN OVER VARIABLE EXPENSES $12.00 (GROSS MARGIN) FIXED EXPENSES $40.86 NET FARM INCOME ($28.86) (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $27.92 NET OPERATING PROFIT ($56.77) (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $28.27 RETURN TO LAND AND RISK ($85.04) ===================================================================================================