Answer Key-Updated May 2013
KEY
Ag Decision Maker Activity
Cost and Returns --
File C1-10
Name___________________________________
Complete the following activity using File C1-10
1.
3.
Using the cash accounting system, which of the past 6 years has the highest
net farm income?
Table 1
_________2004_______
Using the cash accounting system, what is the average net farm income over
the past 6 years?
Table 1
______$51,136_______
What is the average corn yield over the past 6 years?
4.
Table 1
_______162__________
What is the average crop value per acre over the past 6 years?
2.
5.
6.
7.
8.
9.
Table 1
_______$336_________
Between which two years did the total farm assets increase by the smallest
percentage?
Table 1
___ 2001-2002 ______
When comparing the high profit 1/3 and the low 1/3 farms, what is the
difference in return to management?
Table 5
____ _$89,846 ______
For the middle profit 1/3, was there more income from crops or livestock?
Table 5
______ crops_______
How much more value of farm production per person did the high profit 1/3
earn as compared to the low profit 1/3?
Table 6
_____$225,546 _______
What percent of average farm income came from livestock sales?
Table 4
_____39.3%
_______
Answer Key-Updated May 2013
Ag Decision Maker Activity Continued…
Cost and Returns
File C1-10
10.
When comparing the five types of specialized farms, which type of farm had
the largest net worth?
Table 14
___Farrow-to-finish___
11.
When comparing the five types of specialized farms, which had the highest
value of farm production?
Table 14
__Farrow-to-finish ___
12.
Which type of specialized farm had the least number of total crop acres?
Table 14
13.
Which type of farm had the largest return to management?
Table 14
14.
__Farrow-to-finish ___
Which type of farm had the smallest return to management?
Table 14
15.
________dairy________
__ Beef feeding__ ___
List in order the 5 largest crop cash expenses per acre for corn and beans.
(largest to smallest) Table 7
Corn
$ Amounts | Soybeans
$ Amounts
1.
Fertilizer and lime
$72.99
Machinery, fuel, etc.
$63.12
2.
Machinery, fuel, etc.
57.82
Cash rent
55.41
3.
Cash rent
57.49
Seed
30.40
4.
Seed
46.66
Interest
21.74
5.
Herbicides
30.32
Herbicides
18.84
Answer Key-Updated May 2013
Ag Decision Maker Activity Continued…
Cost and Returns
File C1-10
16.
Which type of livestock enterprise had the highest production value per $100
feed fed?
Table 14
__________dairy _______
17.
Which type of livestock enterprise had the highest feed efficient per cwt. of
production?
Table 14
18.
___________dairy_______
Which type of livestock enterprise had the lowest feed efficient / cwt. of
production?
Table 14
__________beef-feeding__
. . . and justice for all
The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race,
color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or family status. (Not
all prohibited bases apply to all programs.) Many materials can be made available in alternative formats for ADA clients. To
file a complaint of discrimination, write USDA, Office of Civil Rights, Room 326-W, Whitten Building, 14th and
Independence Avenue, SW, Washington, DC 20250-9410 or call 202-720-5964.
Issued in furtherance of Cooperative Extension work, Acts of May 8 and June 30, 1914, in cooperation with the U.S.
Department of Agriculture, Cathann A. Kress, director, Cooperative Extension Service, Iowa State University of Science
and Technology, Ames, Iowa.