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Gary Frank UWEX

Enterprising Worksheet

Center for Dairy Profitability

07/18/2013

Cost of Production per Equivalent Unit Produced


Unit Name:
Number Produced:
Enterprise:

Total Costs

CWT EQ
89,676
Milk

$12.14

Head
120
Heifers

$1,200

Bushels
33,526
Corn

T.D.M. = Tons Dry Matter


T.D.M.
T.D.M.
T.D.M.
948
1,128
477
Corn Silage

Haylage

Hay

T.D.M.
100
Other

$2.20

$50

$88

$25

$0

$2.50

$57

$100

$97

$1

Haylage
$0.00
$0.00
$2.91
$4.90
$8.77
$1.39
$1.72
$0.00
$0.00
$0.00
$0.40
$0.00
$0.00
$43.36
$2.39

Hay
$0.00
$0.00
$0.00
$1.14
$2.30
$0.37
$0.45
$0.00
$2.84
$0.00
$0.00
$0.00
$0.00
$11.27
$0.63

Other
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00

$22
$27

$6
$7

$0
$0

(includes opportunity cost of capital and unpaid labor and management)

Price charged to the dairy

(per unit)

$1,200

Detailed Costs of Production per Unit


Enterprise:
Chemicals
Custom Hire
Fertilizer
Fuel & Utilities + Car & Truck Exp

Repairs & Maintenance


Plants & Seeds
Property Taxes
Rent
Supplies Purchased
Veterinary & Breeding
Other Variable Cost
Purchased Feed
Home Grown Feeds
Hired Labor Costs
Unpaid Labor & Management

Internal Animal Purchases

Milk
$0.00
$0.00
$0.00
$0.14
$0.16
$0.00
$0.02
$0.09
$0.28
$0.37
$0.47
$3.75
$1.99
$1.97
$0.11
$1.61

Heifers
$0.00
$0.00
$0.00
$4.30
$15.26
$0.00
$0.45
$3.47
$4.52
$50.08
$3.73
$147.36
$552.39
$113.21
$6.25
$137.50

Corn
Corn Silage
$0.13
$2.03
$0.79
$0.00
$0.09
$1.16
$0.07
$2.55
$0.11
$5.80
$0.10
$1.84
$0.03
$0.57
$0.12
$2.20
$0.00
$0.00
$0.00
$0.00
$0.04
$0.57
$0.00
$0.00
$0.00
$0.00
$0.33
$17.20
$0.02
$0.79

Cost of Capital per Unit of Production


Opportunity Cost
Actual Cost

$1.19
$0.61

$161.00
$79.16

$0.37
$0.43

$15
$17

Total Opportunity Cost Depreciation and Interest Used $180,814


Total Actual Tax Depreciation and Interest Claimed $127,838

Total Labor & Management Charges on This Farm $286,693


Total Costs Charged to the Milk Production Enterprise
Income over Total Cost of the Milk Production Enterprise
Enterprise:

Total Costs Lite

Milk

$11.56

Heifers

$1,118

(excludes a return to equity capital, but includes interest paid,


depreciation claimed, and unpaid labor and management charges)

Corn

$2.26

1,088,746
$106,641
Corn Silage

$52

Haylage

$93

Hay

$26

Other

$0

Step 1. List Value of Capital Items

Inventory
Livestock
Equipment
Machinery
Buildings
Land
Total Investment
Opportunity Interest Rate

Value
Enterprises on This Farm
$180,901
Milk
$600,250
Heifers
$55,000
Corn
$146,748
Corn Silage
$580,641
Haylage
$79,950
Hay
$1,643,490
Other
8.50%

Opportunity Cost of:


Unpaid Labor
Unpaid Management

$0
$15,000

Step 2. List Amount and Value of Feedstuffs Fed Annually


Number of Cows
Number of Other (Heifers)

330

Amount of Home Grown Crops Fed:


(on an as is basis)

Corn
Corn Silage
Haylage
Hay
Other

Unit
Bushels
Tons
Tons
Tons
Tons

Total Home Grown Feeds Fed


Average Moisture in Haylage
Average Moisture in Corn Silage
Average Moisture in Other

250
(per cow)
Quantity
96.00
2.90
8.00
0.00
0.0

(other)
Quantity
10.00
1.00
0.00
2.00
0.00

Value per
Unit
$2.50
$20.00
$35.00
$85.00
$1.00
Total/Cow

Total
$265
$78
$280
$170
$0
$793

$244,490 Number of Heifers that Freshened


this year is 120
65%
65% Price of a: Heifer Calf
$100
0%
Replacement Heifer
$1,200

Step 3. List Income


Milk Sales
Calf Sales
Cull Cow Sales

###
$5,464
$41,227

US All Milk Price

$13.33

Cows
$240
$58
$280
$$$578

Heifers
$25
$20
$$170
$$215

Change in Raised Dairy Herd's Value


Other Enterprise Incomes (excluding crop sales)
Enterprise:
Milk
Heifers
Coop Distributions
$9,248
$0
$0
$0
Crop Program Pymts
Tax Refunds
$0
$0
Other
$0
$0
Total Other
$9,248
$0

$11,000

Corn Corn Silage


$0
$88
$1,366
$1,000
$0
$0
$0
$0
$1,366
$1,088

Haylage
$88
$2,450
$0
$0
$2,538

Hay
$0
$0
$0
$0
$0

Other
$0
$0
$0
$0
$0

Corn Corn Silage


Bushels
Tons
Crop Sales
(Units)
0
0
(Units)
-1200
1447
Inventory change due to raised crops
(Units)
0
0
Inventory change due to purchases
($8,100)
Change in inventory value of other purchased feeds

Haylage
Tons
0
510
0

Hay
Tons
0
42
0

Other
Tons
100
0
0

Step 4. Enter Expense Items


Item:
Breeding Fees
Car & Truck Expense

Chemicals
Conservation Expense

Custom Hire
Depreciation
Employee Benefits
Feed Purchased
Fertilizer
Freight
Gasoline, Fuel
Insurance
Interest - Mortgage
Interest - Other
Labor Hired
Pension & Profit Sharing

Amount
$13,864
$1,674
$6,430
$0
$26,543
$62,151
$32,258
$345,561
$7,306
$1,440
$10,196
$8,952
$32,640
$33,047
$233,435
$6,000

Item:
Rent - equipment
Rent - other
Repairs & Maintenance
Seed & Plants Purchased
Storage
Supplies Purchased
Taxes
Utilities
Veterinary
Other (WMMB)
Other ...
Other ...
Other ...
Total
Change in:
Prepaid Expenses
Accounts Payable

Amount
$600
$13,878
$36,629
$6,968
$0
$27,112
$5,400
$12,344
$25,430
$12,445
$0
$0
$0
$962,303
($15,308)
$6,800

TABLE 1: Schedule F Costs


Item:
Breeding Fees
Car & Truck Expense
Chemicals
Conservation Expense
Custom Hire

Percent to ...
Corn Corn Silage
0.00%
0.00%
35.00%
15.00%
70.00%
30.00%
30.00%
30.00%
100.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%

Milk
75.00%
20.00%
0.00%
0.00%
0.00%

Heifers
25.00%
10.00%
0.00%
0.00%
0.00%

Depreciation
Employee Benefit Programs
Feed Purchased
Fertilizer
Freight

0.00%
0.00%
0.00%
0.00%
0.00%

40.00%
65.00%
95.00%
0.00%
100.00%

10.00%
5.00%
5.00%
0.00%
0.00%

10.00%
4.00%
0.00%
40.00%
0.00%

Gasoline, Fuel
Insurance
Interest - Mortgage
Interest - Other
Labor Hired

0.00%
0.00%
0.00%
0.00%
0.00%

9.00%
70.00%
45.00%
45.00%
65.00%

1.00%
5.00%
5.00%
5.00%
5.00%

Pension & Profit Sharing


Rent - equipment
Rent - other
Repairs and Maintenance
Seed & Plants Purchased

0.00%
0.00%
0.00%
0.00%
0.00%

65.00%
0.00%
57.00%
40.00%
0.00%

Storage & Warehousing


Supplies Purchased
Taxes
Utilities
Veterinary

0.00%
0.00%
0.00%
0.00%
0.00%

Other(WMMB)
Other ...
Other ...
Other ...
Change Prepaid Expenses
Change Accounts Payable
TABLE 2: Opportunity Costs
Item:
Inventory
Livestock
Equipment
Machinery
Buildings
Land
Unpaid Labor
Management
Home Grown Feeds

Haylage
0.00%
18.00%
0.00%
40.00%
0.00%

Hay
0.00%
2.00%
0.00%
0.00%
0.00%

Other
0.00%
0.00%
0.00%
0.00%
0.00%

12.50%
6.00%
0.00%
15.00%
0.00%

25.00%
18.00%
0.00%
45.00%
0.00%

2.50%
2.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%

15.00%
14.00%
12.50%
12.50%
4.00%

20.00%
6.00%
12.50%
12.50%
6.00%

50.00%
5.00%
22.50%
22.50%
18.00%

5.00%
0.00%
2.50%
2.50%
2.00%

0.00%
0.00%
0.00%
0.00%
0.00%

5.00%
0.00%
3.00%
5.00%
0.00%

5.00%
100.00%
25.00%
10.00%
50.00%

6.00%
0.00%
15.00%
15.00%
25.00%

18.00%
0.00%
0.00%
27.00%
22.50%

1.00%
0.00%
0.00%
3.00%
2.50%

0.00%
0.00%
0.00%
0.00%
0.00%

100.00%
93.00%
29.00%
95.00%
90.00%

0.00%
2.00%
1.00%
2.00%
10.00%

0.00%
0.00%
20.00%
1.00%
0.00%

0.00%
0.00%
10.00%
1.00%
0.00%

0.00%
0.00%
36.00%
1.00%
0.00%

0.00%
5.00%
4.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%
0.00%

100.00%
100.00%
45.00%
100.00%
100.00%
100.00%

0.00%
0.00%
5.00%
0.00%
0.00%
0.00%

0.00%
0.00%
10.00%
0.00%
0.00%
0.00%

0.00%
0.00%
10.00%
0.00%
0.00%
0.00%

0.00%
0.00%
27.00%
0.00%
0.00%
0.00%

0.00%
0.00%
3.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%
0.00%

Unallocated

0.00%
0.00%
0.00%
0.00%
0.00%

Milk
90.00%
75.00%
70.00%
0.00%
60.00%

Heifers
10.00%
25.00%
10.00%
0.00%
5.00%

Percent to ...
Corn Corn Silage
0.00%
0.00%
0.00%
0.00%
4.00%
6.00%
15.00%
25.00%
10.00%
10.00%

Haylage
0.00%
0.00%
9.00%
54.00%
13.50%

Hay
0.00%
0.00%
1.00%
6.00%
1.50%

Other
0.00%
0.00%
0.00%
0.00%
0.00%

25.00%
0.00%
0.00%
0.00%

2.50%
65.00%
65.00%
72.89%

2.50%
5.00%
5.00%
27.11%

20.00%
4.00%
5.00%
0.00%

36.00%
18.00%
18.00%
0.00%

4.00%
3.00%
2.00%
0.00%

0.00%
0.00%
0.00%
0.00%

Unallocated

10.00%
5.00%
5.00%
0.00%

Step 1. List Value of Capital Items

Inventory
Livestock
Equipment
Machinery
Buildings
Land

Opportunity Interest Rate

Value
Enterprises on This Farm
$________
Milk
$________
Heifers
$________
________
$________
________
$________
________
$________
________
________
____%

Opportunity Cost of:


Unpaid Labor
Unpaid Management

$________
$________

Step 2. List Amount and Value of Feedstuffs Fed Annually


Number of Cows
Number of Other (Heifers)

________
________

Amount of Home Grown Crops Fed:

Unit
________
________
________
________
________

(on an as is basis)

________
________
________
________
________

(per cow)
(other)
Quantity
Quantity
_____.__ _____.__
_____.__ _____.__
_____.__ _____.__
_____.__ _____.__
_____.__ _____.__

Value per
Unit
$_____.__
$_____.__
$_____.__
$_____.__
$_____.__

Number of heifers that freshened this year is ________

Average Moisture in Haylage


Average Moisture in Corn Silage
Average Moisture in ________

____%
____%
____%

Price of a: Heifer Calf $________


Replacement Heifer $________

Step 3. List Income


Milk Sales $__________
US All Milk Price
Calf Sales $________
Cull Cow Sales $________
Change in Raised Dairy Herd's Value $________

$_____.__

(Animals that you raised or paid to have raised and have deducted as an expense those costs.)

Other Enterprise Incomes (excluding crop sales)


Enterprise:
Milk
Heifers
Coop Distributions ________ ________
Crop Program Pymts ________ ________
Tax Refunds ________ ________
Other ________ ________
Total Other

________
________
________
________
________

Crop Name
Unit Name
(Units)
(Units)
(Units)

________
________
________
________
________

________
________
________
________
________

________
________
________
________
________

________
________
________
________
________

________
________
________
________
________

________
________
________
________
Inventory change due to raised crops
________
Inventory change due to purchases
Change in inventory value of other purchased feeds ________

________
________
________
________
________

________
________
________
________
________

________
________
________
________
________

Crop sales and


Inventory changes

Crop Sales

Step 4. Enter Expense Items


Item:
Breeding Fees
Car & Truck Expense
Chemicals
Conservation Expense
Custom Hire
Depreciation
Employee Benefit Programs

Feed Purchased
Fertilizer
Freight
Gasoline, Fuel
Insurance
Interest - Mortgage
Interest - Other
Labor Hired
Pension & Profit Sharing

Amount
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________

TABLE 1: Schedule F Costs


Item:
Breeding Fees
Car & Truck Expense
Chemicals
Conservation Expense
Custom Hire

Item:
Rent - equipment
Rent - other
Repairs & Maintenance
Seed & Plants Purchased
Storage
Supplies Purchased
Taxes
Utilities
Veterinary
Other (WMMB)
Other ...
Other ...
Other ...
Total
Change in:
Prepaid Expenses
Accounts Payable

Amount
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________

$________
$________

Milk
______%
______%
______%
______%
______%

Heifers
______%
______%
______%
______%
______%

Percent to ...
Corn Corn Silage
______% ______%
______% ______%
______% ______%
______% ______%
______% ______%

Haylage
______%
______%
______%
______%
______%

Hay
______%
______%
______%
______%
______%

Other
______%
______%
______%
______%
______%

Feed Purchased
Fertilizer
Freight

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

Gasoline, Fuel
Insurance
Interest - Mortgage
Interest - Other
Labor Hired

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

Pension & Profit Sharing

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

Supplies Purchased
Taxes
Utilities
Veterinary

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

______%
______%
______%
______%
______%

Other ...
Other ...
Other ...
Other ...
Change Prepaid Expenses
Change Accounts Payable

______%
______%
______%
______%
______%
______%

______%
______%
______%
______%
______%
______%

______%
______%
______%
______%
______%
______%

______%
______%
______%
______%
______%
______%

______%
______%
______%
______%
______%
______%

______%
______%
______%
______%
______%
______%

______%
______%
______%
______%
______%
______%

TABLE 2: Opportunity Costs


Item:
Inventory
Livestock
Equipment
Machinery
Buildings

Milk
______%
______%
______%
______%
______%

Heifers
______%
______%
______%
______%
______%

Percent to ...
Corn Corn Silage
______% ______%
______% ______%
______% ______%
______% ______%
______% ______%

Haylage
______%
______%
______%
______%
______%

Hay
______%
______%
______%
______%
______%

Other
______%
______%
______%
______%
______%

______%
______%
______%
______%

______%
______%
______%
______%

______%
______%
______%
______%

______%
______%
______%
______%

______%
______%
______%
______%

Depreciation
Employee Benefit Programs

Rent - equipment
Rent - other
Repairs and Maintenance
Seed & Plants Purchased
Storage & Warehousing

Land
Unpaid Labor
Management
Home Grown Feeds

______%
______%
______%
______%

______%
______%
______%
______%