Develop $($in Excel$)$ an enterprise budget for a proposed $2024$ No$-$Till soybean enterprise based on the following assumptions: For this exercise I want you to develop your own spreadsheet $($not use an already programmed template$).$ You can, however, look at an already created template for guidance if you want.

Yield, $40$ bushels per acre; assumed price, $$11\mathrm{.}50$ per bushel, soybeans to be sold in October of $2024.$

Costs:

$\backslash$table$[[$Herbicide $+$ application,$$45\mathrm{.}00$ per acre total, half in April of $2024,$ and half in$],[$Seed$,$$$43\mathrm{.}00$ per acre in March of $2024],[$Planting costs $($custom$),$$$21\mathrm{.}00$ per acre in April of $2024],[$Fertilizer $+$ application,$$45\mathrm{.}00$ per acre in March of $2024],[$Other Pesticides $+$ application $$15\mathrm{.}00$ per acre in July of $2024,],[$Land Rent,$$60\mathrm{.}00$ per acre in January of $2024],[$Operator labor and mgmt$.,$$$25\mathrm{.}00$ per acre opportunity cost, not paid directlyy$],[$Crop ins premium,$$18\mathrm{.}00$ per acre in August of $2024],[$Harvest $($custom$),$$$38\mathrm{.}00$ per acre in October of $2024],[$Interest$,$$$17\mathrm{.}00$ per acre in December of $2024],[$Overhead$,$$$6\mathrm{.}00$ per acre in November of $2024]]$

Develop your enterprise budget on a per acre basis. Calculate projected returns over total cost. $($you may also want to include a total column for the whole farm to get numbers for the cash flow part of this assignment$)$

Why do we include operator labor in the enterprise budget even if we don't pay for it$?$

Calculate Break$-$Even yield assuming the $$11\mathrm{.}50$ price, then conduct a sensitivity analysis assuming a $$9\mathrm{.}50$ price, and assuming a $$13\mathrm{.}50$ price.

Calculate Break$-$Even price assuming the $40$ bushel yield, then conduct a sensitivity analysis assuming a $25$ bushel yield, and assuming a $50$ bushel yield.