Corn Enterprise Budget PRICE OR TOTAL A. REVENUE B. OPERATING EXPENSES UNIT QUANTITY COSTIUNIT PER ACRE ACRE a 6.00 b. Seed Seed Treatment Tech Fee Fertilizer 1000K ACRE ACRE 70.00 0.00 0.00 0.00 0.00 1.00 Nitrogen 0.57 0.49 0.49 UNITS UNITS UNITS ACRE TONS ACRE ACRE ACRE ACRE ACRE AC/IN BU BU ACRE ACRE ACRE HOUR ACRE 160.00 60.00 60.00 91.20 29.40 29.40 8.00 10.98 20.00 Micronutrients Lime (Prorated) Herbicides 0.33 33.26 20.00 7.00 1.00 Fungicides 0.00 0.00 0.00 0.00 120.00 120.00 Consultant/Scouting Fee 12.00 0.00 30.00 Hauling Crop Insurance Aerial Application Land Rent Labor (Wages & Fringe) 0.25 20.00 9.00 40.00 11.25 27.00 0.070 20.00 0.00 0.00 1.20 193.24 13.50 27.00 13.53 $400.00 Interest on Operating Capital DOL (Approximate Range per Acre: $300 to $650) Tractor/Machinery C. TOTAL VARIABLE OPERATING COSTS D. FIXED OPERATING COSTS ACRE ACRE ACRE DOL 35.00 125.00 35.00 0.00 0.00 0.00 Land Ownership Cost General Overhead 400.00 0.08 $67.00 E. TOTAL FIXED COSTS G. TOTAL COST OF ALL SPECIFIED EXPENSES H. RETURN OVER VARIABLE COSTS $467.00 C. d. .RETURNS OVER TOTAL COSTS Us ing the corn budget calculate the answers to a. b. c. and d. and fill in the blanks. 1. What corn yield will be needed to break-even on the total costs of corn production? a. 2. What is the total revenue based on this break even cost? This should be easy. Think about it. b. 3. What is the Return over Variable Expenses (Costs)? C. 4. What is the Return over Total Expenses (Costs) given the break-even yield estimated? Again this should be an easy one. d. 5. Fill in the blanks below for break-even yields given total costs of $400, $450 and $500 at the alternative prices given. Remember (P x Q)-TC-O Price/Total Costs $400 $450 $500 $4.00 $5.00 $6.00 6. Fill in the blanks below for break-even price given costs of $500, $550, and $600 given the following yields Yield/Total Costs 80 100 120 $500 $550 $600