Farm Management Cooperative Extension Educators and Consultants. Worksheets for Dairy Farm Business Summary Data Collection

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1 Linda D. Putnam Extension Support Specialist Dyson School of Applied Economics and Management 216 Warren Hall Ithaca, New York Telephone: Fax: November 20, 2012 To: Farm Management Cooperative Extension Educators and Consultants From: Wayne Knoblauch and Linda Putnam Re: Worksheets for Dairy Farm Business Summary Data Collection Attached are Dairy Farm Business Summary worksheets for The purpose of these worksheets is to assist in early collection of data for dairy farm business summaries. We are providing you with this pdf file so that you can print and distribute them to your business summary cooperators in whatever quantity and form suits you best. Please note the Labor Inventory and Receipt Worksheets should have the instructions printed on the back. If you decide to send the worksheets to all or a selected number of cooperators, include a cover letter explaining their purpose and how to use them. Consider sending the crop worksheets out in November or as soon as fall harvest is completed. Encourage DFBS cooperators to get a head start by completing their 2012 land use and crop production summary early. You may want to attach a copy of last year s land inventory numbers for continuing cooperators. Tools that help you calculate capacities of ag bags, upright silos, and horizontal bunkers are available on the Crop Storage Institute s website: and on the University of Minnesota Extension s website: The cash expense and receipt worksheet may be useful for new cooperators and those who do not have a comparable breakdown. Consider sending this along with the account receivable and payable and prepaid expense worksheets to arrive on January 2nd. Insist that cooperators who do not use the worksheet make a copy of their receipts and expenditure summary before sending it to their accountant. ldp Enclosure Cornell University is an equal opportunity affirmative action educator and employer.

2 MACHINERY & EQUIPMENT INVENTORY WORKSHEETS MACHINERY & EQUIPMENT PURCHASED Description Amount or boot paid + Market value of trade-in = $ $ $ Market value of new item * Inventory Checks( ) Remove Add new trade-in** item** TOTAL MACH. & EQUIP. PURCHASED $ *Loss in market value may occur from date of purchase to year end. Adjust year end value recorded in inventory to represent year end market values of machinery and equipment purchased. **The machine traded in must be removed from your market value inventory record and the market value of the machine acquired must be added. MACHINERY & EQUIPMENT SOLD OR DESTROYED (not trade-ins) Description Sale Amount Insurance Received $ $ Removed from Inventory? ( ) TOTAL MACHINERY & EQUIPMENT SOLD $ + $ =$ Beginning of Year Machinery & Equipment Market Value Inventory $ End of Year Machinery & Equipment Market Value Inventory $ Take these total beginning and year-end market value inventory values from your farm inventory book, record of farm assets or complete farm balance sheet. LAND & BUILDINGS INVENTORY WORKSHEETS New Purchases and Capital Improvements Lost Description Cost Capital Description Land: $ xxxxxxxxx xxxxxxxxx Total Land Purchases $ Buildings & Land Improvement* $ $ Capital Sales: $ Sale Price Or Amount Received Total Bldgs. & Lost Capital $ $ Total Capital Sales $ *E.g., fences, tile drainage, farm ponds Land & Building Market Value: Beginning of Year $ End of Year $

3 FEED & SUPPLY INVENTORY WORKSHEET Beginning of Year End of Year Item Quantity Price / Unit Total Value Quantity Price / Unit Total Value GROWN FEED 1 : Corn-HMSC $ $ $ $ Corn-HMEC Corn-dry, Oats Wheat Other Dry hay $ $ $ $ Baleage Hay crop silage Corn silage Other GROWN SUPPLIES: Bedding $ $ $ $ Lumber TOTAL GROWN FEED & SUPPLIES $ $ PURCHASED FEED 2 : Dairy grain & concentrate $ $ $ $ Dairy roughage Nondairy feed PURCHASED SUPPLIES: Machine: Parts $ $ $ $ Fuel, oil, grease Livestock: Semen Veterinary supplies Bedding Milking supplies bst supplements Other livestock supplies Crops: Fertilizer Seeds Pesticides & Other Land/building/fence: Other: TOTAL ALL FEED & SUPPLIES $ $ 1 Feed and supplies produced on this farm including rented cropland. All purchased feed and crops are inventoried as PURCHASED FEED. 2 Purchases made at the end of the year for next year's feed and supplies must be included in inventory.

4 LIVESTOCK INVENTORY WORKSHEET Cow no. check: = cows end year (owned & leased) = Cows beg. Year (owned & leased) + heifers fresh + cows purchased + - _ - _ - - new leased/rented cows cows sold for beef cows sold for dairy cows died leased/rented cows returned to owner. Number of leased dairy cows at beginning of year, at end of year. Dec. 31, 2012 Market Value Inventory Using: Jan. 1, 2012 Market Value Inventory 1/1/2012 Prices 12/31/2012 Prices No. $/head Total value No. $/head Total value $/head Total value Dairy Cows:... $ $ $ $ $ $... Total Dairy Cows $ $ $ Heifers: Bred Heifers $ $ $ $ $ $ Open (6 mo. - bred) Calves (<6 mo.) Total Heifers $ $ $ Bulls & Other Livestock:... $ $ $ $ $ $... Total Bulls & Other Lvstk. $ $ $ Total Livestock $ $ $ Use of this worksheet will allow separation of the dairy cows, youngstock and other livestock. The following example illustrates how the worksheet is used to identify changes in values in a youngstock herd. Example: Sam Farmer had 50 head of youngstock valued at $30,500 at the beginning of the year. At the end of the year, he still has 50 head of youngstock and his total inventory value has increased to $36,000. How much of an increase can be attributed to growth and herd improvement versus change in price? A completed worksheet can provide the answers. At the beginning of the year, Sam had 10 bred heifers, 20 open yearlings, and 20 calves. At the end of the year, he has 20 bred heifers that are younger and smaller than the 10 he had at the beginning, but bred heifer prices have increased $100 per head. The open yearlings did not change in quality or price during the year. The 10 calves in the year end inventory are older than last year's group. The increase in youngstock value due to a change in the physical make up of the herd was $3,500 while higher prices at the end of the year caused a $2,000 appreciation. Dec. 31, 2012 Market Value Inventory Using: Jan. 1, 2012 Market Value Inventory 1/1/2012 Prices 12/31/2012 Prices No. $/head Total value No. $/head Total value $/head Total value Heifers: Bred 10 $850 $ 8, $800 $16,000 $900 $18,000 Open Yearlings , , ,000 Calves , , ,000 Total 50 $30, $34,000 $36,000

5 LABOR INVENTORY WORKSHEET Labor Description Full-Time Months Age Years Education Value of Management & Labor Operator - 1 $ - 2 $ - 3 $ - 4 $ - 5 $ - 6 $ Family (paid employees): Name Months* Total Family Paid months Family (unpaid): Name Months* Total Family Unpaid months Hired (regular and seasonal): Name Months* Total Hired Total All Labor months months *Calculate using 230 hours per month as full time equilivent -- OVER FOR INSTRUCTIONS --

6 INSTRUCTIONS FOR LABOR INVENTORY WORKSHEET Begin by identifying the operators of the farm. Operators should include all individuals who are integrally involved in the operation and management of the farm business. They are not limited to those who are the owner of a sole proprietorship or are formally a member of a partnership or corporation. In instances where a husband and wife operate and manage the farm as a team both may be included as operators. The labor input of each operator should then be specified in months. In most instances, this is 12 months but in some instances where one or more operators of the farm business have other work occupying their time, such as operating an off-farm enterprise, directing a farm organization or managing of the family; less than 12 months would be appropriate. In order to calculate more accurate labor efficiency factors, operator months greater than 12 are also possible. Convert average weekly operator hours to months using 4.3 weeks/month and 230 hours/month. For example, Operator #1 works, on average, 60 hours per week, which converts to 13.5 months per year: 60 hours/week x 4.3 weeks/month x 12 months worked = 13.5 full-time months 230 hours/month In addition, for each operator, indicate their age and years of education if they are comfortable providing that information. The estimated value of their management and labor input is required. This value should be based on what that person could earn in a similar capacity in similar employment. Any farm expenses for labor or perquisites for these operators should be excluded from the labor expenses entered later in the input. This exclusion will probably be most relevant for corporations but may also apply to other businesses. In addition, the total months of family labor who are paid, the months of family labor not paid, and the total full-time months of hired labor should be recorded. The full-time months can then be totaled and divided by 12 to determine the worker equivalent. The conversion to full-time, worker-month equivalents is necessary; conversion is not always easy but is very important to an accurate summary. A high school student may provide three months of worker-month equivalent labor during the 10 month school year by working part-time. Convert hourly labor on the basis of 230 hours per month. There are 4.3 weeks in a month. Below is a formula for converting hours per week to full-time months and two examples of this type of conversion: Full-time months = No. hours/week x 4.3 weeks/month x no. months worked 230 hours 1. Neighbor's teenager works 40 hours per week in the summer from June through August. 40 hours x 4.3 weeks per month = 172 hours per month. 172 hours per 230 hour full-time person = 0.75 (in other words he is three-quarters of a full-time person). Three months worked x 0.75 = 2.25 full-time month equivalents. 2. Daughter-in-law milks evenings, six days a week, year round; usually averages about 20 hours per week. Full-time months = 20 hours/week x 4.3 weeks/month x 12 months worked 230 hours Full-time months = 4.5 months

7 Account Number or Description WORKSHEET FOR RECORDING CHANGES IN OPERATING ACCOUNTS RECEIVABLE Allocation Balance Balance Change in 12/31/2012 1/1/2012 Acct. Rec. Code Code Receipt Category : $ - $ = $ 1 Butterfat $ : $ - $ = $ 2 Protein $ : $ - $ = $ 3 Other Solids $ : $ - $ = $ 4 Producer Price Differential : $ - $ = $ (PPD) $ : $ - $ = $ 5 Quality $ : $ - $ = $ 6 Volume $ : $ - $ = $ 7 Compact Payment $ : $ - $ = $ 8 Patronage Dividend $ : $ - $ = $ 9 Other Milk $ : $ - $ = $ 10 Futures/Contracts $ : $ - $ = $ 11 Dairy Cattle $ : $ - $ = $ 12 Dairy Calves $ : $ - $ = $ 13 Other Livestock $ : $ - $ = $ 14 Crops $ : $ - $ = $ 15 Government Receipts $ : $ - $ = $ 16 Custom Machine Work $ : $ - $ = $ 17 Gas Tax Refund $ : $ - $ = $ 18 Other $ TOTAL: $ - $ = $ >=========equals=======> $ Guidelines for Recording Accounts Receivable Change in Accounts Receivable 1. Identify changes in operating accounts receivable by first entering the end of year (December 31) balance and then subtracting the beginning of year (January 1) balance from it. 2. Assign and allocate changes in accounts receivable to appropriate farm receipts on the right side of the worksheet. Use the codes The totals of the two "Change in Accounts Receivable" columns must be equal. Example Change in Account Receivable: Sam Farmer's December 2012 milk sales (net amount of January 2013 check) were $9,525. The milk check receivable on January 1, 2012 (beginning of year) was $7,700. Sam fills in the worksheet as follows: Description Bal. 12/31/ Bal. 1/1/2012 = Change in Acct. Butterfat $ 4,405 - $ 3,560 = $ 845 Protein 4,843-3,915 = 928 Other Solids = 52 Sam's account receivable for milk increased $1,825 during the year because he sold more milk in December 2012 than in December These changes in accounts receivable amounts are entered in the allocation section of the worksheet. Example Change in Accounts Payable: Sam Farmer has a fertilizer and supply operating account at Agway. The balance at the end of 2012 is $5,000. The beginning of year balance was $1,000. The lefthand side of the Accounts Payable Worksheet looks like this: Bal. 12/31/ Bal. 1/1/2012 = Change in Acct. Agway (fert. & sup.): $5,000 - $1,000 = $4,000 The $4,000 increase in this account represents fertilizer and supplies used during the year or added to inventory and must be allocated to expenses. Sam makes the following allocation on the worksheet: Other livestock exp. $ 400 Fertilizer & lime 2,200 Seeds & plants 800 Spray & other crop exp. 600 $4,000

8 WORKSHEET FOR RECORDING CHANGES IN OPERATING ACCOUNTS PAYABLE Account Change in Allocation Number Balance - Balance = Accounts Expense or Description 12/31/2012 1/1/2012 Payable Code Code Category Change in Acct. Pay. 1 Hired Labor $ : $ - $ = $ Feed 2 Dairy grain & conc. : $ - $ = $ 3 Dairy roughage 4 Nondairy feed : $ - $ = $ 5 Professional fees Machinery : $ - $ = $ 6 Mach. hire & lease 7 Mach. rep. & veh. exp. : $ - $ = $ 8 Fuel, oil & grease Livestock : $ - $ = $ 9 Replacement livestock 10 Breeding : $ - $ = $ 11 Veterinary & medicine 12 Milk marketing : $ - $ = $ 13 Bedding 14 Milking supplies : $ - $ = $ 15 Cattle lease 16 Custom boarding : $ - $ = $ 17 bst 18 Professional fees : $ - $ = $ 19 Other livestock expense Crops : $ - $ = $ 20 Fertilizer & lime 21 Seeds & plants : $ - $ = $ 22 Spray, other crop exp. 23 Professional fees : $ - $ = $ Real Estate 24 Land, bldg. & fence rep. : $ - $ = $ 25 Taxes 26 Rent & lease : $ - $ = $ Other 27 Insurance : $ - $ = $ 28 Utilities (farm share) 29 Interest : $ - $ = $ 30 Professional fees 31 Miscellaneous : $ - $ = $ 32 Expansion Livestock 33 Extraordinary Expense TOTAL: $ - $ = $ =====equals======> $ Guidelines for Recording Accounts Payable 1. Identify changes in open operating accounts payable by first entering the end of year balance (Dec. 31)) and then subtracting the beginning year balance (Jan. 1) from it. These are accounts established when farm inputs, such as feed, fertilizer, farm supplies, machinery, repairs, and veterinarian services were bought on credit. 2. If there is more than one account per dealer or farm supplier (e.g., feed is purchased from the same supplier as fertilizer), list them separately on the left-hand portion of the worksheet to facilitate easier allocation to farm expense categories. 3. Assign and allocate changes in open operating accounts payable to appropriate farm expenses listed on the right side of the worksheet. Use the codes When more than one type of farm input is included in a particular open account, allocate to the expense categories using the estimated ratio of farm input actually purchased from the account during the year. 5. The totals of the two "Change in Accounts Payable" columns must be equal. 6. If scheduled debt payments were not made, there is likely an increase in accounts payable for "interest". However, if the loan was refinanced and the unpaid amount added to the principal, the interest is considered paid and is reported with the debt payments.

9 CASH RECEIPTS WORKSHEET Receipts Cash Receipts Farm receipts: Milk Butterfat Protein Other Solids Producer Price Differential (PPD) Quality Volume Compact Payment Patronage Dividend Other Milk Futures/Contracts Raised cattle sales Purchased cattle sales Dairy calves Other livestock Crops Government receipts Custom machine work Gas tax refunds Other: Total Other Sale of other stock & certificates (exclude Farm Credit Stock) Nonfarm receipts: Cash income: Total nonfarm cash income Cash used in the business from nonfarm capital Noncash capital transferred to farm business for cattle & crops $ $ $ $ $ $ -- OVER FOR INSTRUCTIONS -- $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

10 INSTRUCTIONS FOR CASH RECEIPTS WORKSHEET This worksheet is a place for you to list farm and nonfarm receipts. This information will be combined with changes in inventories and accounts receivable to compute your accrual receipts for the year. Below are some guidelines for recording summary year receipts. 1. Include gross value for pounds of milk sold. 2. Dairy cattle sales include receipts for cull cows and breeding stock. Include bob calf receipts under dairy calves sold. 3. Crop sales include sales of standing and harvested field, fruit and vegetable crops and any crop insurance proceeds for loss or damage of crops. Maple products and wood sales should be reported as miscellaneous income. Include all receipts from custom work, gas tax refunds, and government receipts under the appropriate category. 4. Machinery and real estate sales are netted out in the inventory-depreciation calculations and must NOT be added in with other farm receipts. 5. Itemized and identify miscellaneous ("other") receipts of more than $500. Include income from maple product sales and positions such as director of cooperative. 6. Nonfarm cash income from nonfarm work for self and spouse, tax refunds, principal and interest received from prior sale of farm assets, timber sales, gas and oil royalties, gravel sales, income from elected office, and other nonfarm income that is available for debt payments and family living. In some instances, receipts such as timber sales should be classified as farm income; i.e., if the farm operator has actively managed the enterprise and the corresponding expenses are included in farm expenses. Nonfarm income is necessary for the Annual Cash Flow Statement to balance, but it is not included when calculating farm profitability. 7. Cash used in the business from nonfarm capital is all the rest of the cash flowing into the farm business from outside. Include cash from personal savings accounts, stocks or bonds converted to cash, cash gifts and inheritances, cash grants and cost share payments. 8. Nonfarm noncash capital transferred to the farm business for cattle and crops includes gifts and inheritances of farm assets (excluding machinery and real estate) and the conversion of nonfarm assets to farm assets.

11 CASH AND PREPAID EXPENSES WORKSHEET Farm Expense Cash Detail Cash Amount Paid Change in Prepaid Expense Hired Labor $ $ Gross Pay $ Health Insurance & Retire Contribution FICA/Worker Comp. Other Benefits Feed Dairy grain & concentrate Dairy roughage Nondairy feed Professional nutritional services Machinery Machine hire, rent & lease Machinery repairs & farm vehicle expense Equipment Repair $ Milk System Repair Vehicle Expense Parts & Supplies Fuel, oil & grease Livestock Replacement livestock Breeding Veterinary & medicine Vet Service $ Medicine Hoof Trimming Milk marketing Milk Hauling $ Advertising/Promotion Coop Dues & Other Bedding Milking supplies Cattle lease & rent

12 CASH AND PREPAID EXPENSES WORKSHEET (continued) Farm Expense Cash Amount Paid Change in Prepaid Expense Custom boarding $ $ bst Livestock, professional fees Other livestock expense Crops Fertilizer & lime Seeds & plants Spray, other crop expense Crop, professional fees Real Estate Land, building & fence repair Taxes Rent & lease Other business Insurance Utilities (farm share) Interest Other, professional fees Miscellaneous Expansion livestock $ Extraordinary Expense $ Purchase of other stock & certificates (exclude Farm Credit stock) $ Nonfarm Cash Expenses Personal withdrawals & family expenditures $ Family Living $ Insurance Taxes Legal Fees Withdrawal of retained Earnings Other

13 INSTRUCTIONS FOR CASH AND PREPAID EXPENSES WORKSHEET This worksheet is for entering all cash expenses incurred during the summary year. It is also used to record changes in prepaid expenses in categories where a change in inventory will not account for the changes in expense. All advanced purchases of feed and supplies should be included as feed and supply inventory, not as prepaid expenses. Additional guidelines for recording summary year's expenses follow: 1. Enter hired labor expenses separately including wages, social security paid on labor, workers' compensation insurance (net of refunds), unemployment insurance, and privileges purchased for hired labor. Wages paid must be consistent with months of hired labor. Make sure wages do not include "draws" to partners or wages of corporate owner/operators for individuals entered as operators in Labor Inventory. 2. Dairy grain and concentrate bought should include the concentrate, minerals, protein, and grain purchased during the year for the dairy herd including cows, heifers, calves, and bulls. Dairy roughage includes hay and silage for the dairy herd as well as anhydrous ammonia purchased for silage additive. All feed purchased for livestock such as hogs, horses, and beef cattle should be included in nondairy feed. 3. Milk marketing includes government assessments, milk hauling, milk promotion, and coop dues. Do not include capital assessments. Cattle lease expense includes cattle lease payments and cattle rent. Other livestock expenses include DHIC dues and cattle registration. 4. Enter all the town, county, and school taxes paid on farm real estate. Exclude taxes paid on your personal residence, income and self-employment taxes. (Itemize corporate taxes under miscellaneous.) Sales taxes should be capitalized along with cost of improvement. 5. Enter all the fire, farm liability and crop insurance paid on farm property. Exclude life insurance and personal health insurance. Enter employee health insurance as hired labor expense and vehicle insurance as machinery expense. 6. Enter the farm share of utility expenses (e.g. electricity, telephone, heating fuel). 7. Include all real estate rent paid and any lease payments on structures. Identify taxes and insurance paid by the rentee as rent. Enter machinery lease payments under machine hire, rent or lease, cattle lease payments under cattle lease/rent. 8. Include all interest paid on farm liabilities including finance charges. 9. Miscellaneous expenses should not be large. Include only those items which cannot be identified within another category. Maple product expenses should be entered as miscellaneous. 10. Cattle purchased must be divided into those purchased as replacements and those that increase the size of the herd (expansion). Start by allocating the increase in herd size recorded on the Livestock Inventory. 11. Personal withdrawals and family expenditures includes all cash withdrawals plus all additional nonfarm expenses paid with farm cash or from farm accounts (e.g., income tax, self employment tax, life insurance, and wages of corporate owner-operators.). Include withdrawals used for nonfarm loan payments, savings and investments as well as family living expenses. Include borrowed capital used for nonfarm purchases, providing it has been entered as a new nonfarm liability. If any or all "Nonfarm Cash Income" has been excluded from the value entered in the Cash Receipts Worksheet, you must also exclude any family expenses paid from that income. 12. Change in prepaid expenses is the difference between the amount prepaid on December 31 and the amount prepaid on January 1 (end year minus beginning-of-year). See the following page for a more detailed worksheet for changes in prepaid expenses.

14 CHANGE IN PREPAID EXPENSES WORKSHEET* Account Prepaid Prepaid Change in Allocation Number Balance - Balance = Prepaid Prepaid Expense or Description 12/31/2012 1/1/2012 Expense Code Code Category Change in Prepaid Expense : $ - $ = $ 1 Hired labor $ : $ - $ = $ 2 Professional nutritional services : $ - $ = $ 3 Machine hire/rent/lease : $ - $ = $ 4 Replacement livestock : $ - $ = $ 5 Milk marketing : $ - $ = $ 6 Cattle lease/rent : $ - $ = $ 7 Custom boarding : $ - $ = $ 8 Livestock, professional fees : $ - $ = $ 9 Crops, professional fees : $ - $ = $ 10 Taxes : $ - $ = $ 11 Real estate rent & lease : $ - $ = $ 12 Insurance : $ - $ = $ 13 Utilities (farm share) : $ - $ = $ 14 Interest : $ - $ = $ 15 Other, professional fees : $ - $ = $ 16 Expansion livestock : $ - $ = $ 17 Extraordinary expense : $ - $ = $ TOTAL: $ _ - $ _ = $ _ =====equals=== $ *Please see instructions on the previous page.

15 INSTRUCTIONS FOR COMPLETING CROP WORKSHEETS Worksheet 1 - Crop Production Information Needed for Dairy Farm Business Summary Check-in Form The three boxes in this worksheet are similar to those found in Screens 8, 9 and 19 of the check-in form. Fill in the Land Inventory (top box) directly. Fill in the middle and bottom boxes from totals on Worksheets 2-5. The third box and Worksheet 5, Crop Expense Breakdown, are optional input. Worksheet 2 - Corn Grain Conversion Worksheet Use this worksheet to convert corn grain to bushels dry shelled equivalent. Worksheet 3 - Tillable Land Use by Field This worksheet is included to help with adding up acreages of fields in each crop. List acres in each field. Transfer total acres for each crop to the "Acres (1st cut only)" column in the middle box on Worksheet 1. The "Land Inventory" box at the top of Worksheet 1 provides a cross-check on crop acreage. The "All Acres" column in the "Tillable Land" line should be the same as "Total Tillable Acres" in the middle box, when tillable pasture and idle tillable acres are included less any doublecropped acres. Worksheet 4 - Total Crop Production This worksheet is to help you calculate crop production based on dimensions of hay mows, tower silos, and trench or bunker silos. For hay crop silage, corn silage, or high moisture corn in tower silos, the silo chart gives total tons dry matter for silos with different diameters and depths. Total production as harvested is required on the check-in form. To calculate total production as harvested from total tons dry matter, divide by the dry matter coefficient (dry matter percent expressed as a decimal - 40% is entered as.4). For dry hay, calculate total cubic feet of volume from length x width x height of the mow. Then multiply by tons per cubic foot from the table. Tools that may help you calculate capacities of ag bags, upright silos, and horizontal bunkers is available on the Crop Storage Institute s website: and on the University of Minnesota Extension s website: feedstorage.pdf Worksheet 5 - Breakdown of Crop Expenses by Crop -- OPTIONAL The 2012 summary printout will provide you with a breakdown of crop expenses by crop, on a per tillable acre and per ton dry matter or per dry shell bushel basis. This information is intended to help evaluate potential changes in crop acreages and other cropping decisions. Worksheet 5 is provided to help calculate the total dollar amounts of crop expenses that will be used to calculate the per tillable acre and per ton costs. Worksheet 5 splits out fertilizer, lime, seed, spray, and other crop expenses to individual crops. List individual purchases and dates. Enter all purchase amounts in column A, then assign amounts to hay crops, corn, pasture or other crops in columns B, C, D, and/or E. Transfer the totals to the bottom box on Worksheet 1.

16 WORKSHEET 1. CROP PRODUCTION INFORMATION NEEDED FOR DAIRY FARM BUSINESS SUMMARY CHECK-IN FORM LAND INVENTORY Acres Owned Acres Rented All Acres Tillable land Pasture (nontillable) Woods & other nontillable Total TILLABLE LAND USE Hay Crop (1 st cut acres only) Hay Baleage Hay crop silage Corn silage Other forage harvested Corn for grain 1 Oats Wheat Other:... Tillable pasture Idle tillable acres Less doublecropped acres Total tillable acres Acres (1 st cut only) Total Production (all cuttings) tons tons tons tons tons dry sh. bu. dry bu. dry bu. Dry Matter Coefficient 2 [ ] Check if intensively grazing milking herd at least 3 months of year, changing paddock at least every 3 days, and at least 30 percent of the forage consumed during the grazing season was grazed. 1 Convert to dry shelled equivalent (see tables on Worksheet 2). 2 Enter as decimal, e.g., 40% is entered as.4. OPTIONAL CROP EXPENSE BREAKDOWN Crop Accrual Fertilizer & Lime Accrual Seeds & Plants Accrual Spray, Other Crop Expenses Hay crop (silage & dry) $ $ $ Corn (silage & grain) Pasture All other crops Total 3 $ $ $ Totals above must equal accrual expenses in Screen 17 of check-in form. 3 Start with totals for all crops from Worksheet 5.

17 WORKSHEET 2. CORN GRAIN CONVERSION WORKSHEET Percent Tons as Moisture Harvested 1 Conversion Factor 2 Dry Shell Equivalent Ear Corn: % T / = bushels / = Shell Corn: % T / = bushels / = Total (enter on Worksheet 1) bushels 1 Use Table 1 below. 2 Use Table 2 below. TABLE 1. TOWER SILO CAPACITIES FOR HIGH MOISTURE CORN Tons High Moisture Ear Corn 3 Tons High Moisture Shelled Corn 4 Settled Inside Diameter in Feet Sealed Storage Depth Feet Diameter Based on 33 percent moisture content. 4 Based on 28 percent moisture content. HMEC stored in horizontal silos will range from 40 to 42 pounds per cubic foot. TABLE 2. CORN GRAIN CONVERSION TABLE Percent Tons of Shelled Corn Moisture Needed to Equal One Bushel in Kernel of Dry Shelled 5 Percent Moisture in Whole Ear Tons of Ear Corn Needed to Equal One Bushel of Dry Shelled Corn One bushel of no. 2 corn at 15.5 percent moisture content.

18 APPROXIMATE DRY MATTER CAPACITY OF SILOS* Depth of Settled Inside Diameter of Silo: Silage (ft) To find the tons remaining in a top unloading silo after part of the silage is removed: (1) find the tons of silage when the silo was filled, (2) find the tons in a silo filled to the height equal to the depth of silage removed, (3) subtract the number of tons in Step 2 from the number of tons in Step 1. Ex: a 20 foot silo filled to a settled depth of 60 feet and 22 feet were fed off. (1) 20x equals 159 tons, (2) 20x22 equals 38 tons (3) 159 minus 38 equals 121 tons remain *This table was adapted by the Department of Agricultural Engineering and Agricultural Economics from a silo capacity table developed by the National Silo Association, 1201 Waukegan Road, Glenview, Illinois and added to by the Department of Agricultural Engineering and Agricultural Economics, the University of Wisconsin. NOTE: USE WORKSHEET 4, "TOTAL CROP PRODUCTION" TO CONVERT FROM DRY MATTER TO TOTAL PRODUCTION.

19 APPROXIMATE CAPACITY OF HORIZONTAL SILOS The following tables give approximate capacity of horizontal silos in tons based on 70 percent moisture silage, good packing practices, and level full condition after settling. Allowance should be made for sloping end(s), i.e., the capacity indicated is for full length of average depth, so for design purposes add depth of silo to this length. Amount of silage Average per slice width Length in Feet 4" 12" in feet thick thick 8' deep, 40 pounds per cubic foot: tons tons ,024 1, ,120 1,280 1, ,152 1,344 1,536 1, ,024 1,280 1,536 1,792 2,048 2, ' deep, 42 pounds per cubic foot: ,008 1, ,008 1,176 1,344 1, ,050 1,260 1,470 1,680 2, ,008 1,260 1,512 1,764 2,016 2, ,008 1,344 1,680 2,016 2,352 2,688 3, ' deep, 44 pounds per cubic foot: , ,109 1,267 1, ,056 1,267 1,478 1,690 2, ,056 1,320 1,584 1,848 2,112 2, ,267 1,584 1,901 2,218 2,534 3, ,267 1,690 2,138 2,521 2,957 3,379 4, ' deep, 46 pounds per cubic foot: ,030 1, ,159 1,352 1,546 1, ,030 1,288 1,546 1,803 2,061 2, ,288 1,610 1,932 2,254 2,576 3, ,159 1,546 1,932 2,318 2,705 3,091 3, ,546 2,061 2,576 3,091 3,606 4,122 5, SOURCE: GJC: 302:73:246

20 ESTIMATING GRAIN AND HAY VOLUME Grain: A bushel of grain contains 1.25 cubic feet. Multiply the length of the bin by the width, by the depth (all in feet) to get cubic feet. Then divide cubic feet by A quicker way is to multiply the cubic feet by 0.8. If the storage unit is round, use the formula r 2 x height = cubic feet. Example: Bin 10 x 4 x 3 equals 120 cubic feet; 120 times 0.8 equals 96 bushels. Storage Space Requirements for Feed Bedding 1 Material Weight/Cubic Ft. Pounds Cubic Ft. Per Ton Hay - Long loose, in shallow mows Long loose, in deep mows Baled, loosely Baled, tightly Chopped, 3" machine cut Chopped, 1 1/2-2" machine cut Straw - Loose Baled Chopped Shavings, baled Mixed ground feed Special Bulletin 4, Planning Stall Barns, October Experiment Station, University of Wisconsin, Madison, Wisconsin ESTIMATING EAR CORN VOLUME General Directions: Multiply the length times the width times the height (all in feet) to get cubic feet. If the storage unit is round, use the formula r 2 x height equals cubic feet. To get bushels, multiply cubic feet times 0.4 or divide cubic feet by 2.5. Two Moisture Content Corrections 1 1) If dry - bushels = volume in cubic feet x 4/9 4/9 = If new - bushels = volume in cubic feet x 4/10 4/10 = If damp - bushels = volume in cubic feet x 4/11 4/11 = ) Following are correction factors for converting gross bushels of ear corn to net bushels. %Moisture %Moisture %Moisture Standard Weights of Farm Content Factor Content Factor Content Factor Products Per Bushel 15 or less pounds Alfalfa Apples Barley (common) Barley (hull-less) Beans Bluegrass (Kentucky) 14 Bromegrass 14 Buckwheat 50 1) Example: 10,000 cubic feet of storage Clover 60 Dry - 10,000 cubic feet x 4/9 = 4,444 bushels Corn (broom) 50 New - 10,000 cubic feet x 4/10 = 4,000 bushels Corn (dry ear) 35 Damp - 10,000 cubic feet x 4/11 = 3,636 Corn (shelled) 56 2) Example: 10,000 cubic feet of storage Corn (sweet) 50 Cowpeas 60 Flax 56 Gross Bu. Millett 48 Standard Moisture Oats 32 Moisture Cu. Ft. Factor Bushels Factor Net. Bu. Onions 52 Orchard grass 14 15% x 0.4 = x = 4,120 Peas x 0.4 = x = 4,000 Potatoes x 0.4 = x = 3,880 Rape x 0.4 = x = 3,760 Redtop x 0.4 = x = 3,640 Rye x 0.4 = x = 3,520 Sorghum x 0.4 = x = 3,400 Soybeans x 0.4 = x = 3,280 Timothy x 0.4 = x = 3,160 Wheat 60 Wrinkled Peas 56 1 Pages 44 and 49, Agricultural Handbook No. 230 Farmer's Handbook of Financial Calculations, USDA Milk, per gallon 8.6

21 Name: WORKSHEET 3. TILLABLE LAND USE BY FIELD Hay Crop (Hay and Hay Crop Silage) Corn Silage Field Acres Field Acres Total Hay Crop * Total Corn Silage * *Transfer total acres for each crop to middle box on Worksheet 1. Cross-check total tillable acres at bottom of box against "Tillable Land - All Acres" in Land Inventory (top box).

22 Name: WORKSHEET 3. TILLABLE LAND USE BY FIELD (con't) Other Forage Harvested Corn Grain Field Acres Field Acres Total Other Forage * Total Corn Grain * Oats Wheat Total Oats * Total Wheat * Other Tillable Pasture Total Other * Total Tillable Pasture * *Transfer total acres for each crop to middle box on Worksheet 1. Cross-check total tillable acres at bottom of box against "Tillable Land - All Acres" in Land Inventory (top box).

23 WORKSHEET 4. TOTAL CROP PRODUCTION Hay 1 Dimensions (in feet) Cu. Ft. Total Prod. (tons) Dry Matter Storage structure Length x Width x Height = Cu. Ft. / Per ton = (all cuttings) Coefficient 2 Total 4 (avg.) Hay Crop Silage, Corn Silage, or High Moisture Corn in Tower Silos 4 Dimensions Total Tons Dry Matter Dry Matter Total Production (tons) Storage structure Depth Diameter (from silo chart) / Coefficient = (all cuttings) Corn Silage in Trench Silo Storage structure Length x Width 3 x Depth = Cubic Feet x Tons per Cu. Ft. = Total Production (tons) (fresh weight) Dry Matter Coefficient Total 4 (avg.) 1 Use this worksheet if you don't have a count of number of bales produced. An alternative would be to multiply number of bales times average bale weight. 2 Enter as decimal, e.g., 40% is entered as.4. 3 For width, average widths at top and bottom of trench. 4 Transfer total production for each crop to middle box of Worksheet 1.

24 Name: WORKSHEET 5. BREAKDOWN OF 2012 CROP EXPENSES BY CROP -- OPTIONAL Month Day Description of Fertilizer & Lime Expense Enter all items in this column (A) = Hay crop (silage & dry) (B) + Corn (silage & grain) (C) + Pasture (D) + All other crops (E) $ $ $ $ $ Inventory Change Change In Accounts Payable Total Fertilizer & Lime 1 $ = $ + $ + $ + $ Description of Seeds & Plants Expense $ $ $ $ $ Inventory Change Change in Accounts Payable Total Seeds & Plants 1 $ = $ + $ + $ + $ Description of Spray & Other Crop Expenses $ $ $ $ $ Inventory Change Change in Accounts Payable Total Spray & Other Crop Expenses 1 $ = $ + $ + $ + $ (Column A should equal total of columns B, C, D, and E) 1 Transfer totals for fertilizer and lime, seeds and plants, and spray and other crop expenses for each crop (columns B, C, D, and E) to bottom box on Worksheet 1.