TABLE 3. Wheat, dryland, budgeted per acre costs and returns for a 1,920 acre farm with above
average management, Southeastern Quay County, 2001.
Planting dates: August 20 - 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 20.00 BUSHELS $60.00
ASCS DEFICIENCY $0.46 20.00 BUSHELS $9.20
ASCS DIVERSION $0.00 $0.00
GRAZING $5.00 1.00 ACRE $5.00
______
TOTAL $74.20
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PURCHASED
PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL
--------- ------ ----- ----------- ----- -----
SEED $0.11 25 LBS $2.75 $2.75
CROP INSURANCE $0.04 $0.04 $0.04
SUBTOTAL $2.79 $2.79
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR &OIL REPAIRS COST TOTAL
---------- ---------- -------------- ----------- --------- ----- ----- ------- ----- -----
SWEEP (2X) 185 HP 0.10 HR $0.76 $1.45 $0.74 $3.15 $6.10
STUBBLE MULCHER 185 HP 0.05 HR $0.38 $0.73 $0.44 $2.09 $3.63
RODWEED (2X) 96 HP 0.10 HR $0.76 $0.75 $0.15 $0.57 $2.23
DRILL 185 HP 0.05 HR $0.38 $0.73 $1.03 $2.50 $4.64
_________ ______ ______ ______ ______ ______
SUBTOTAL 0.30 HR $2.27 $3.66 $2.36 $8.31 $16.60
HARVEST OPERATIONS
------- ----------
COMBINE 22 FT 0.14 HR $1.06 $1.64 $0.00 $6.72 $9.42
HAUL 2 TON 0.14 HR $1.06 $1.25 $3.04 $1.87 $7.21
_________ ______ ______ ______ ______ ______
SUBTOTAL 0.28 HR $2.11 $2.88 $3.04 $8.59 $16.63
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.15 HR $0.54 $0.54
EMPLOYEE BENEFITS $0.66 $0.66
INSURANCE $0.09 $0.09
LAND TAXES $0.31 $0.31
SUPERVISION AND MANAGEMENT $3.71 $3.71
OTHER EXPENSES $18.02 $18.02
_________ ______ ______ ______ ______
SUBTOTAL 0.15 HR $18.11 $4.91 $0.31 $23.33
--------- ------ ------ ------ ------ ------ ------
TOTAL OPERATING EXPENSES 0.73 HR $20.86 $9.29 $6.54 $5.40 $17.22 $59.31
NET OPERATING PROFIT $14.89
INTEREST ON OPERATING CAPITAL ( $3.39 @ 9.00%) $0.31
INTEREST ON EQUIPMENT INVESTMENT $10.19
RETURN TO LAND AND RISK $4.39
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BUDGET SUMMARY
GROSS RETURN $74.20 VARIABLE OPERATING EXPENSES $32.80 RETURN OVER VARIABLE EXPENSES $41.40 (GROSS MARGIN) FIXED EXPENSES $17.22 NET FARM INCOME $24.18 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $9.29 NET OPERATING PROFIT $14.89 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $10.50 RETURN TO LAND AND RISK $4.39 ===================================================================================================