TABLE 6. Wheat, sprinkler-irrigated, budgeted per acre costs and returns for a 1,280 acre farm
with above average management, Union County, 2001.
Planting dates: August 15 - November 15
Harvesting dates: July 1 - July 15
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
WHEAT $3.00 80.00 BUSHELS $240.00
ASCS DEFICIENCY $0.46 80.00 BUSHELS $36.80
ASCS DIVERSION $0.00 $0.00
GRAZING $40.00 1.00 ACRE $40.00
_______
TOTAL $316.80
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PURCHASED FIXED
PURCHASED INPUTS PRICE QUANTITY INPUTS COST TOTAL
--------- ------ ----- ----------- ------ ----- ------
SEED $0.11 100 LBS $11.00 $11.00
MANURE $2.70 8 TON $21.60 $21.60
LIVESTOCK FAC & EQUIP $5.00 $5.00
PUMP WATER* 11 AC. IN. $0.00
CROP INSURANCE $0.12 __________ ______ $0.12
SUBTOTAL $32.60 $5.00 $37.72
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL
---------- ---------- -------------- ----------- --------- ----- ----- ------- ----- ------
DISC 185 HP 0.07 HR $0.53 $1.02 $0.68 $2.70 $4.92
CHISEL 185 HP 0.09 HR $0.68 $1.31 $0.43 $2.67 $5.08
DISC 185 HP 0.07 HR $0.53 $1.02 $0.68 $2.70 $4.92
DRILL 126 HP 0.12 HR $0.91 $1.12 $1.78 $1.70 $5.50
IRRIGATE (7X) 0.70 HR $4.73 $30.49 $8.20 $11.06 $54.47
_________ ______ ______ ______ ______ ______
SUBTOTAL 1.05 HR $7.37 $34.95 $11.75 $20.83 $74.89
HARVEST OPERATIONS
------- ----------
COMBINE GRAIN TABLE 0.14 HR $1.06 $1.74 $3.19 $12.11 $18.09
GRAIN CART 93 HP 0.14 HR $1.06 $1.31 $0.40 $1.48 $4.24
TRUCK SEMI 0.14 HR $1.06 $2.34 $1.81 $5.56 $10.77
_________ _______ ______ ______ ______ ______ ______
SUBTOTAL 0.42 HR $0.00 $3.17 $5.39 $5.39 $19.14 $33.10
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.19 HR $1.45 $1.45
EMPLOYEE BENEFITS $1.90 $1.90
INSURANCE $0.21 $0.21
LAND TAXES $0.25 $0.25
SUPERVISION AND MANAGEMENT $23.26 $23.26
OTHER EXPENSES $29.89 $29.89
_________ _______ ______ ______ ______
SUBTOTAL 0.19 HR $30.10 $26.61 $0.25 $56.96
--------- -------- ------ ------ ------ ------ -------
TOTAL OPERATING EXPENSES 1.66 HR $62.70 $37.15 $40.34 $17.14 $45.22 $202.67
NET OPERATING PROFIT $114.13
INTEREST ON OPERATING CAPITAL ( $28.93 @ 9.00%) $2.60
INTEREST ON EQUIPMENT INVESTMENT $18.41
RETURN TO LAND AND RISK $93.11
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* Pump water costs are shown under irrigation in the preharvest operations section.
BUDGET SUMMARY
GROSS RETURN $316.80 VARIABLE OPERATING EXPENSES $120.19 RETURN OVER VARIABLE EXPENSES $196.61 (GROSS MARGIN) FIXED EXPENSES $45.22 NET FARM INCOME $151.40 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $37.15 NET OPERATING PROFIT $114.25 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $21.01 RETURN TO LAND AND RISK $93.23 ===================================================================================================