TABLE 4. 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 $37.50 1.00 ACRE $37.50
_______
TOTAL $314.30
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PURCHASED
PURCHASED INPUTS PRICE QUANTITY INPUTS 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.
CROP INSURANCE $0.08 ______ ______ $0.08
SUBTOTAL $32.60 $5.00 $37.68
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 $0.47 $1.82 $3.83
CHISEL 185 HP 0.09 HR $0.68 $1.31 $0.69 $1.79 $4.46
DISC 185 HP 0.07 HR $0.53 $1.02 $0.47 $1.82 $3.83
DRILL 126 HP 0.12 HR $0.91 $1.19 $1.76 $1.68 $5.53
IRRIGATE (7X) 0.70 HR $4.66 $32.21 $8.20 $13.04 $58.11
_________ ______ ______ ______ ______ ______
SUBTOTAL 1.05 HR $7.30 $36.74 $11.59 $20.14 $75.77
HARVEST OPERATIONS
------- ----------
COMBINE GRAIN TABLE 0.14 HR $1.06 $1.74 $0.18 $7.82 $10.80
GRAIN CART 93 HP 0.14 HR $1.06 $1.31 $0.13 $0.59 $3.09
HAUL SEMI 0.14 HR $1.06 $2.34 $2.17 $3.90 $9.47
_________ ______ ______ ______ ______ ______ ______
SUBTOTAL 0.42 HR $0.00 $3.17 $5.39 $2.48 $12.31 $23.36
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.19 HR $1.45 $1.45
EMPLOYEE BENEFITS $1.88 $1.88
INSURANCE $0.21 $0.21
LAND TAXES $0.25 $0.25
SUPERVISION AND MANAGEMENT $23.09 $23.09
OTHER EXPENSES $25.83 $25.83
_________ ______ ______ ______ ______
SUBTOTAL 0.19 HR $26.04 $26.42 $0.25 $52.71
--------- ------- ------ ------ ------ ------ -------
TOTAL OPERATING EXPENSES 1.66 HR $58.64 $36.89 $42.14 $14.07 $37.70 $189.52
NET OPERATING PROFIT $124.78
INTEREST ON OPERATING CAPITAL ( $29.08 @ 9.00%) $2.62
INTEREST ON EQUIPMENT INVESTMENT $13.95
RETURN TO LAND AND RISK $108.21
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* Pump water costs are shown under irrigation in the preharvest operations sections.
BUDGET SUMMARY
GROSS RETURN $314.30 VARIABLE OPERATING EXPENSES $114.85 RETURN OVER VARIABLE EXPENSES $199.45 (GROSS MARGIN) FIXED EXPENSES $37.70 NET FARM INCOME $161.75 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $36.89 NET OPERATING PROFIT $124.86 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $16.57 RETURN TO LAND AND RISK $108.29 ===================================================================================================