I need help on question 1 (page 4) parts E, F, G ,I

if we cannot read your answer, you will not receive credit for it. There is no partial credit for an answer. Your answer is either right or it is wrong. Crop Enterprise Budgets Fairview Acres intends to plant 800 acres of soybeans, followed by a crop of corn on the same 800 acres all in the same year. Create an enterprise budget for one acre of corn and an enterprise budget for one acre of soybeans for one year. Use the information provided below and the blank forms attached to this assignment Spring machinery: Price per Unit See variable costs per acre on page 2. Corn following soybeans, conventional tillage Apply p&k fertilizer NH3 applicator (N) Tandem disk Field cultivator Planter Sprayer Sprayer Combine Haul (on farm) Haul (to market) Dry (1 gallon of LP gas per 8 bushels) 32,000 kernels / acre Herbicide tolerant Soybeans, following corn Apply P&K fertilizer Chisel plow Tandem disk Field cultivator Sprayer Planter Sprayer Combine Haul (on farm) Haul (to market) No drying Fall machinery: See page 2 Drying (LP gas) $1.60 per gal. $3.50/1000 K. $70 per bag 1.0 bag per acre 150 lbs./acre None $.50 per lb. Seed-corn Seed--soybeans Fertilizer Nitrogen (Anhydrous Ammonia) (N) Phosphate (P) Potash (K) Lime Herbicides Bicep Il Magnum Balance PRO Roundup Authority $.46 per Ib. $.50 per lb. $15 per ton 70 lbs./acre 55 lb./acre 1/3 ton / acre/ year 40 lbs./acre 75 lbs./acre 1/3 ton /acre/year 5 pints / acre* 3 oz. / acre $45 per gal." $6.00 per oz. $40 per gal. $60 per lb. 1.5 pints/acre 3 lb. / acre $25 per acre $15 per acre $18 per acre $15 per acre Crop Insurance Miscellaneous costs * There are 8 pints in a gallon. Estimated Machinery Costs The following cost estimates are for on-farm use, excluding labor. Reme mates are for on-farm use, excluding labor. Remember these are estimates and they should not take the place of accurate record keeping. Operation Estimated Cost for Fuel, Oil and Repairs, $ per acre $8.80 $11.00 $4.80 > $4.70 $3.10 $4.10 $1.80 $2.00 $3.10 $3.00 $3.50 $1.70 Subsoiling (V-ripper) Moldboard plow Chisel plow Chop stalks Tandem disk Offset disk Peg tooth harrow Sprayer Field cultivator Disk/Field cultivator Strip tiller Apply P & K fertilizer NH3 applicator Grain drill Broadcast seeder Planter No-till planter No-till drill Rotary hoe Cultivator Combine corn Combine soybeans Combine small grain Haul grain (on farm) Haul grain (to market) $5.30 $4.40 $1.90 $5.40 $6.20 $6.50 $1.20 $2.20 $11.40 $8.90 $5.60 $0.04/bu. $0.10/bu. Machinery Operating costs Use the variable cost estimates on this page to complete the budgets These variable costs do not include machinery ownership costs Machinery and Equipment Fairview Acres owns a line of machinery with a current value of $400,000. Annual Machinery Ownership Costs Depreciation assume 10% of the current value Interest assume 6% of current value Insurance assume 1% of current value Total machinery ownership costs per year 40.000 24000 4000 68.000 x Gross Revenue Variables Corn Expected Yield 176 bushels per acre Expected Price $5.50 per bushel Soybeans 51 bushels per acre $12.50 per bushel Supplies Use the prices and application rates given on page 1 to calculate the cost per acre for all seed, Tertilizer, herbicides, insecticides, crop insurance and miscellaneous items. Interest Calculate interest on the total cost of spring machinery operating, supplies, and miscellaneous at 5% per year for 8 months. Drying Costs It takes one gallon of LP gas to dry 8 bushels of corn. LP gas costs $1.60 per gallon. Labor Needed Spring Soybeans 800 acres requires 2 people working 12 hours per day for 20 days Harvest operations for 800 acres require 2 persons for 10 hours per day for 21 480 Corn 800 acres requires 2 people working 12 hours per day for 25 days Harvest operations for 800 acres require 3 persons, each working 10 hours per day for 30 days Fall days. 420 300 900 300 Non-field work time Total labor hours needed Labor hours needed per acre (800 acres of soybeans and 800 acres of corn) 1200 1800 2.25 1.5 Total labor cost using $15 per hour 29.5 35.15 Land Cost Fairview Acres pays $275 per acre cash rent for each crop planted on this 800-acre farm. ormation from pages 1 through 3, calculate a per acre enterprise budget for soybeans. (5 points) Soybear A. ENTERPRISE NAME Yield bushel/acre B Gross Revenue 51 Fixed $/acre Price/bushel $12.50 Variable $/acre $ 6375 $ 1.70 4.80 13.10 3.10 samo 5.40 C. Machinery Operating costs - Spring Expenses (see page 2) Apply P&K Fertilizer Chisel Plow Tandem Disk Field Cultivator Sprayer Sprayer Planter Unit of Price per D. Supplies Quantity Measure Unit Seed bags $70.00 Phosphate (P) 40 lb $0.46 Potash (K) 75 $0.50 Lime 0.33333 $15.00 Roundup 1.5 $5.00 Authority 0.3 $60.00 Crop Insurance Miscellaneous 1b 70 18.4 31.5 4.99 7.5 18 18 15 E. Interest on pre harvest machinery and supplies Rate Months % los OS b F. Machinery Operating Cost - Harvest Expenses Combine Soybeans Quantity s ea - Hauling on farm Haul to market Rate per Bushel $ 0.04 $0.10 $ 0.10 Hours -1.5 Rate/Hour $15 G. Labor H. Land I. Machinery Ownership 22.5 $275 $400,000 J. Total Costs K. Gross Margin per Acre (Gross Revenue - Variable Costs) if we cannot read your answer, you will not receive credit for it. There is no partial credit for an answer. Your answer is either right or it is wrong. Crop Enterprise Budgets Fairview Acres intends to plant 800 acres of soybeans, followed by a crop of corn on the same 800 acres all in the same year. Create an enterprise budget for one acre of corn and an enterprise budget for one acre of soybeans for one year. Use the information provided below and the blank forms attached to this assignment Spring machinery: Price per Unit See variable costs per acre on page 2. Corn following soybeans, conventional tillage Apply p&k fertilizer NH3 applicator (N) Tandem disk Field cultivator Planter Sprayer Sprayer Combine Haul (on farm) Haul (to market) Dry (1 gallon of LP gas per 8 bushels) 32,000 kernels / acre Herbicide tolerant Soybeans, following corn Apply P&K fertilizer Chisel plow Tandem disk Field cultivator Sprayer Planter Sprayer Combine Haul (on farm) Haul (to market) No drying Fall machinery: See page 2 Drying (LP gas) $1.60 per gal. $3.50/1000 K. $70 per bag 1.0 bag per acre 150 lbs./acre None $.50 per lb. Seed-corn Seed--soybeans Fertilizer Nitrogen (Anhydrous Ammonia) (N) Phosphate (P) Potash (K) Lime Herbicides Bicep Il Magnum Balance PRO Roundup Authority $.46 per Ib. $.50 per lb. $15 per ton 70 lbs./acre 55 lb./acre 1/3 ton / acre/ year 40 lbs./acre 75 lbs./acre 1/3 ton /acre/year 5 pints / acre* 3 oz. / acre $45 per gal." $6.00 per oz. $40 per gal. $60 per lb. 1.5 pints/acre 3 lb. / acre $25 per acre $15 per acre $18 per acre $15 per acre Crop Insurance Miscellaneous costs * There are 8 pints in a gallon. Estimated Machinery Costs The following cost estimates are for on-farm use, excluding labor. Reme mates are for on-farm use, excluding labor. Remember these are estimates and they should not take the place of accurate record keeping. Operation Estimated Cost for Fuel, Oil and Repairs, $ per acre $8.80 $11.00 $4.80 > $4.70 $3.10 $4.10 $1.80 $2.00 $3.10 $3.00 $3.50 $1.70 Subsoiling (V-ripper) Moldboard plow Chisel plow Chop stalks Tandem disk Offset disk Peg tooth harrow Sprayer Field cultivator Disk/Field cultivator Strip tiller Apply P & K fertilizer NH3 applicator Grain drill Broadcast seeder Planter No-till planter No-till drill Rotary hoe Cultivator Combine corn Combine soybeans Combine small grain Haul grain (on farm) Haul grain (to market) $5.30 $4.40 $1.90 $5.40 $6.20 $6.50 $1.20 $2.20 $11.40 $8.90 $5.60 $0.04/bu. $0.10/bu. Machinery Operating costs Use the variable cost estimates on this page to complete the budgets These variable costs do not include machinery ownership costs Machinery and Equipment Fairview Acres owns a line of machinery with a current value of $400,000. Annual Machinery Ownership Costs Depreciation assume 10% of the current value Interest assume 6% of current value Insurance assume 1% of current value Total machinery ownership costs per year 40.000 24000 4000 68.000 x Gross Revenue Variables Corn Expected Yield 176 bushels per acre Expected Price $5.50 per bushel Soybeans 51 bushels per acre $12.50 per bushel Supplies Use the prices and application rates given on page 1 to calculate the cost per acre for all seed, Tertilizer, herbicides, insecticides, crop insurance and miscellaneous items. Interest Calculate interest on the total cost of spring machinery operating, supplies, and miscellaneous at 5% per year for 8 months. Drying Costs It takes one gallon of LP gas to dry 8 bushels of corn. LP gas costs $1.60 per gallon. Labor Needed Spring Soybeans 800 acres requires 2 people working 12 hours per day for 20 days Harvest operations for 800 acres require 2 persons for 10 hours per day for 21 480 Corn 800 acres requires 2 people working 12 hours per day for 25 days Harvest operations for 800 acres require 3 persons, each working 10 hours per day for 30 days Fall days. 420 300 900 300 Non-field work time Total labor hours needed Labor hours needed per acre (800 acres of soybeans and 800 acres of corn) 1200 1800 2.25 1.5 Total labor cost using $15 per hour 29.5 35.15 Land Cost Fairview Acres pays $275 per acre cash rent for each crop planted on this 800-acre farm. ormation from pages 1 through 3, calculate a per acre enterprise budget for soybeans. (5 points) Soybear A. ENTERPRISE NAME Yield bushel/acre B Gross Revenue 51 Fixed $/acre Price/bushel $12.50 Variable $/acre $ 6375 $ 1.70 4.80 13.10 3.10 samo 5.40 C. Machinery Operating costs - Spring Expenses (see page 2) Apply P&K Fertilizer Chisel Plow Tandem Disk Field Cultivator Sprayer Sprayer Planter Unit of Price per D. Supplies Quantity Measure Unit Seed bags $70.00 Phosphate (P) 40 lb $0.46 Potash (K) 75 $0.50 Lime 0.33333 $15.00 Roundup 1.5 $5.00 Authority 0.3 $60.00 Crop Insurance Miscellaneous 1b 70 18.4 31.5 4.99 7.5 18 18 15 E. Interest on pre harvest machinery and supplies Rate Months % los OS b F. Machinery Operating Cost - Harvest Expenses Combine Soybeans Quantity s ea - Hauling on farm Haul to market Rate per Bushel $ 0.04 $0.10 $ 0.10 Hours -1.5 Rate/Hour $15 G. Labor H. Land I. Machinery Ownership 22.5 $275 $400,000 J. Total Costs K. Gross Margin per Acre (Gross Revenue - Variable Costs)