Farm Management Accounts Farm Profit & Loss Account

Using the data given below calculate the following:

1. Gross Output
2. Variable Costs
3. Fixed Costs
4. Gross Margin
5. Net Profit

Euros ()

Casual labour 750.00

Farm depreciation 2,560.00

Professional fees 5,000.00

Livestock purchases 15,750.00

ESB, Telephone & Postage 2,173.00

Livestock closing value 37,500.00

Animal feed/ration 7,500.00

Fertiliser, Seed and Sprays 5,800.00

Permanent Labour 25,500.00

Livestock sales 43,150.00

Levies and transport 2,755,00

Veterinary, medicine, AI 638.00

Livestock opening value 62,750.00

Bank interest charges 1, 175.00

Machinery(running costs) 3,100.00