Soybeans - No-Till Enterprise Budget


 
Revenue
 Revised Jan 2012
Sample cost
per Acre		 Your Farm Budget
Expected Yield (bu/ac)
42.00
  
Expected Price ($/bu)
11.10
  
Total Expected Revenue (Yield x Price)
    
add: Program Payment
    
Total Revenue
    

 
Expenses
Revised Jan 2012
Sample cost
per Acre
 Your Farm Budget
Seed - 177,000 seeds/acre in 15" rows-drill
44
  
Seed Treatment/Inoculant
 
Fertilizer #1 N, if required
 
Fertilizer #2 20 kg/ha P
10
  
Fertilizer #3 40 kg/ha K
18
  
Herbicide - Annual grasses and broadleaf weeds
37
 
Herbicide - Burndown
7
  
Herbicide - other weed control
   
Insecticides
    
Fungicides
    
Crop Insurance
12
  
Program Premium
    
Custom Work #1 Pesticide application
20
  
Custom Work #2 Fertilizer application
10
  
Custom Work #3
    
Drying
13
  
Storage
9
  
Trucking
10
  
Marketing Fees
1
  
Other
   
Fuel
10
  
Mach. Repair & Maint.
12
  
Bldg. Repair & Maint.
    
Labour
6
  
General Variable Costs
 
  
Interest on Operating Capital
4
  
Total Variable Costs
224
  

 

Gross Margin (Revenue - Variable Costs)

 
Fixed Costs
 Revised Jan 2012
Sample cost
per Acre		 Your Farm Budget
Depreciation
18
  
Interest on Term Loans
10
  
Land Costs
    
Long-Term Leases
    
General Fixed Costs
7
  
Total Fixed Costs
36
 
Total Expenses
260
  

 

*Breakeven Price on Your Farm is (Total Expenses / Expected Yield)

Allocation of General Variable and Fixed Costs

General Variable and Fixed Costs or general overhead costs are those whole farm costs that can be difficult to allocate to a specific enterprise. These costs will show little or no change whether one crop or another is grown. That is to say your crop mix choice should be the same after allocating general overhead costs as it was before they were added. This table allows you to allocate these overhead costs and transfer them to the budget to arrive at a total cost of production.

Cost Item Whole Farm $ Percent Allocated to Soybeans Total Dollars Allocated to Soybeans Per Acre Costs for Soybeans Your Farm Budget
Example: 100 acres of Soybeans
Legal and accounting fees
$1500.00
20%
$300
$3.00
  
General Variable Costs
$
Soybeans
Soybeans
Soybeans
 
Advertising
          
Electricity and Heating Fuel
          
Telephone
          
Memberships / Subscription Fees
          
Office Expenses
          
Legal and Accounting Fees
          
Motor Vehicle Expenses
          
Small Tools
          
Soil Testing
          
Licenses/permits
          
Other general variable costs
          
Total General Variable Costs
          
General Fixed Costs
          
Property Taxes
          
Other Insurance Premiums
          
Other general fixed costs
          
Total General Fixed Costs
          
Total Fixed Costs
          
Total Expenses
          

 

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For more information:
Toll Free: 1-877-424-1300
Local: (519) 826-4047
E-mail: ag.info.omafra@ontario.ca
Author: John Molenhuis - Business Analysis & Cost of Production Program Lead/OMAFRA
Creation Date: 10 March 2003
Last Reviewed: 22 December 2011