TABLE 8. Sweet corn, flood-irrigated, budgeted per acre costs and returns for a 300 acre farm with above average management, Cibola County, 2001. Planting Dates: May 5 - May 25 Harvest Dates: August 15 - September 20 ------------------------------------------------------------------------------------------------------------------------ ITEM PRICE YIELD TOTAL ------------------------------------------------------------------------------------------------------------------------ GROSS RETURNS CORN $2.00 700.00 DOZEN $1,400.00 _________ TOTAL $1,400.00 ------------------------------------------------------------------------------------------------------------------------ PURCHASED PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL --------- ------ ------ ------ ----- ------- ------ SEED $6.00 13 LBS $75.00 $75.00 NITROGEN (N) $0.42 120 LBS $50.40 $50.40 PHOSPHATE (P2O5) $0.39 45 LBS $17.55 $17.55 HERBICIDE $19.28 1 ACRE $19.28 $19.28 INSECTICIDE $13.18 2 X/ACRE $26.36 $26.36 CANAL WATER 30 AC. IN. $9.00 $9.00 _______ _______ SUBTOTAL $197.59 $197.59 POWER ACCOMPLISHMENT PURCHASED FUEL FIXED PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL ---------- ---------- -------------- ------- ---- --------- ----- ----- ------ ----- ------ DISC 93 HP 0.14 HR $0.90 $1.41 $0.53 $2.61 $5.46 PLOW 93 HP 0.67 HR $4.32 $6.75 $2.33 $6.12 $19.52 SPRAY 65 HP 0.15 HR $0.97 $1.06 $0.22 $6.39 $8.63 FERT SPREADER 93 HP 0.05 HR $0.32 $0.50 $0.13 $1.26 $2.21 DISC 93 HP 0.14 HR $0.90 $1.41 $0.53 $2.61 $5.46 FLOAT 93 HP 0.24 HR $1.55 $2.42 $0.30 $0.67 $4.94 LISTER 65 HP 0.18 HR $1.16 $1.27 $0.50 $17.93 $20.87 PRE-IRRIGATE 0.75 HR $3.86 $3.86 HAND PLANT 5.00 HR $25.75 $25.75 SPRAY (2X) 65 HP 0.30 HR $1.94 $2.11 $0.44 $12.77 $17.26 CULTIVATOR (2X) 65 HP 0.42 HR $2.71 $2.96 $1.12 $17.07 $23.87 IRRIGATE (4X) 2.00 HR $10.30 $10.30 ______ ___ _______ ______ ______ ______ _______ SUBTOTAL 10.04 HR $54.68 $19.90 $6.10 $67.44 $148.13 HARVEST OPERATIONS ------- ---------- HAND PICK 25.00 HR $128.75 $128.75 HAUL 3/4 TON 6.25 HR $40.31 $57.09 $15.13 $286.98 $399.51 ______ ___ _______ ______ ______ _______ _______ SUBTOTAL 31.25 HR $169.06 $57.09 $15.13 $286.98 $528.26 OVERHEAD EXPENSES -------- -------- DOWNTIME 3.26 HR $21.04 $21.04 EMPLOYEE BENEFITS $40.27 $40.27 INSURANCE $4.47 $4.47 LAND TAXES $0.31 $0.31 SUPERVISION AND MANAGEMENT $107.28 $107.28 OTHER EXPENSES $66.29 $66.29 ______ ___ _______ _______ _______ _______ SUBTOTAL 3.26 HR $70.77 $168.59 $0.31 $239.67 ------- --- --------- ------- ------- ------- ------- --------- TOTAL OPERATING EXPENSES 13.30 HR $268.36 $392.34 $77.00 $21.23 $354.73 $1,113.65 NET OPERATING PROFIT $286.35 INTEREST ON OPERATING CAPITAL ( $111.31 @ 9.00%) $10.02 INTEREST ON EQUIPMENT INVESTMENT $189.49 RETURN TO LAND AND RISK $86.84 ======================================================================================================================== BUDGET SUMMARY GROSS RETURN $1,400.00 VARIABLE OPERATING EXPENSES $366.58 RETURN OVER VARIABLE EXPENSES $1,033.42 (GROSS MARGIN) FIXED EXPENSES $354.73 NET FARM INCOME $678.69 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $392.34 NET OPERATING PROFIT $286.35 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $199.51 RETURN TO LAND AND RISK $86.84 =====================================================================================================