ࡱ> [XYZ g2ɀ\pMoore, Stanley Ba= =X>N*8@"11Arial11Arial11Arial11Arial11Arial1'1Arial11Arial1 1Arial1 1Arial1 1Arial1 1Arial11Arial11Arial11Arial11Geneva11Geneva11Geneva11Geneva11Helv1'1Arial11Arial11Arial11Arial11Arial11Arial1'1Arial11Arial11Arial11Arial1Calibri1 Calibri1Calibri14Calibri1 Calibri1Calibri1Calibri1,8Calibri18Calibri18Calibri1 Arial1>Calibri14Calibri1<Calibri1?Calibri1h8Cambria1Calibri1 Calibri1 Arial"$"#,##0_);\("$"#,##0\)!"$"#,##0_);[Red]\("$"#,##0\)""$"#,##0.00_);\("$"#,##0.00\)'""$"#,##0.00_);[Red]\("$"#,##0.00\)7*2_("$"* #,##0_);_("$"* \(#,##0\);_("$"* "-"_);_(@_).))_(* #,##0_);_(* \(#,##0\);_(* "-"_);_(@_)?,:_("$"* #,##0.00_);_("$"* \(#,##0.00\);_("$"* "-"??_);_(@_)6+1_(* #,##0.00_);_(* \(#,##0.00\);_(* "-"??_);_(@_)94_("$"* #,##0_);_("$"* \(#,##0\);_("$"* "-"??_);_(@_)=8_("$"* #,##0.0_);_("$"* \(#,##0.0\);_("$"* "-"??_);_(@_)0.0 #,##0.000 #,##0.0A<_("$"* #,##0.000_);_("$"* \(#,##0.000\);_("$"* "-"??_);_(@_) \(0\) "$"#,##0.;; "$"#,##0.00;;0_);[Red]\(0\)#,##0.00000000000C>_("$"* #,##0.0000_);_("$"* \(#,##0.0000\);_("$"* "-"??_);_(@_)#,##0.000000000000#,##0.0000000000#,##0.000000000#,##0.0_);\(#,##0.0\) 0.000000000 0.00000000 0.0000000000 0.00000000000$[$-409]dddd\,\ mmmm\ dd\,\ yyyy m/d/yy;@                                                                  !   " ff + ) , * # $  % P & P '  ' ( )   * ` +      ,   - . a> /   "   "8@@  @   @ #  ( "8     "8 #8 "8@ @ "8@ "8 @ "8@  "8@ "8@  ,@ @  @ @  ( '  (@@ #0@ #  ` #8@  ,@ @  ( , l@ @ H  `@   `   ` @   ,  ,  @@   #8@ !8@ #0@       #  , " , (@ @  ,  @   !8  !8 !    ,@ @   & $@ & $ & $ & ,@@ & ,@ & , @ &  "<  ,@ #8@@ #8@  "  "  (@  (@   (   (  #8 !8@@ !8@  ( #8 ' , "0@ @ "8@ @     " " " ! ! ! !   " " !  l?     @ #8@ "8  (@  (  l? # # !  "8  # "8  `? #8@  , $@ @ , (@  @'  '   '  ,  , ! "  $@  @@   (@@   (@   '  @' , ' % ' ,     '' , '' ,  "    '    #  '   '  ' '    ''   %" '"  !8   (  ,@  ,@@ "<@ & , ! "   ( #   "     l' ? !'   ,  ,  (  (  ,  ,  (@  ( @    ,  ,  (  (       (  $ !0@   !'  '    ,@ @ %" &   (  ( (Q  0 ( (   ||w }A} yyyy##0.ef??_);_(@}A} yyyy##0.ef??_);_(@}A} yyyy##0.ef??_);_(@}A} yyyy##0.ef??_);_(@}A} yyyy##0.ef??_);_(@}A} yyyy##0.ef ??_);_(@}A} yyyy##0.L??_);_(@}A} yyyy##0.L??_);_(@}A} yyyy##0.L??_);_(@}A} yyyy##0.L??_);_(@}A} yyyy##0.L??_);_(@}A} yyyy##0.L ??_);_(@}A} yyyy##0.23??_);_(@}A} yyyy##0.23??_);_(@}A} yyyy##0.23??_);_(@}A} yyyy##0.23??_);_(@}A}  yyyy##0.23??_);_(@}A}! yyyy##0.23 ??_);_(@}A}" yyyy##0.??_);_(@}A}# yyyy##0.??_);_(@}A}$ yyyy##0.??_);_(@}A}% yyyy##0.??_);_(@}A}& yyyy##0.??_);_(@}A}' yyyy##0. ??_);_(@}A}( yyyy##0.??_);_(@}}) }yyyy##0.??_);_(@   }}* yyyy##0.??_);_(@??? ??? ??? ???}-}/ yyyy##0.}A}0 ayyyy##0.??_);_(@}A}1 yyyy##0.??_);_(@}A}2 yyyy##0.???_);_(@}A}3 yyyy##0.23??_);_(@}-}4 yyyy##0.}(}5  yyyy##0.}}6 ??vyyyy##0.̙??_);_(@   }A}7 }yyyy##0.??_);_(@}A}8 eyyyy##0.??_);_(@}x}9yyyy##0.??_  }}: ???yyyy##0.??_??? ???  ??? ???}-}< yyyy##0.}U}= yyyy##0.??_ }-}> yyyy##0.}(}  yyyy##0.}(} yyyy##0. 20% - Accent1M 20% - Accent1 ef % 20% - Accent2M" 20% - Accent2 ef % 20% - Accent3M& 20% - Accent3 ef % 20% - Accent4M* 20% - Accent4 ef % 20% - Accent5M. 20% - Accent5 ef % 20% - Accent6M2 20% - Accent6  ef % 40% - Accent1M 40% - Accent1 L % 40% - Accent2M# 40% - Accent2 L渷 % 40% - Accent3M' 40% - Accent3 L % 40% - Accent4M+ 40% - Accent4 L % 40% - Accent5M/ 40% - Accent5 L % 40% - Accent6M3 40% - Accent6  Lմ % 60% - Accent1M 60% - Accent1 23 % 60% - Accent2M$ 60% - Accent2 23ږ % 60% - Accent3M( 60% - Accent3 23כ % 60% - Accent4M, 60% - Accent4 23 % 60% - Accent5M0 60% - Accent5 23 %! 60% - Accent6M4 60% - Accent6  23 % "Accent1AAccent1 O % #Accent2A!Accent2 PM % $Accent3A%Accent3 Y % %Accent4A)Accent4 d % &Accent5A-Accent5 K % 'Accent6A1Accent6  F %(Bad9Bad  %) Calculation Calculation  }% * Check Cell Check Cell  %????????? ???+ Comma,( Comma [0]-&Currency.. Currency [0]/Explanatory TextG5Explanatory Text % 0Good;Good  a%1 Heading 1G Heading 1 I}%O2 Heading 2G Heading 2 I}%?3 Heading 3G Heading 3 I}%234 Heading 49 Heading 4 I}%54 Hyperlink   6InputuInput ̙ ??v% 7 Linked CellK Linked Cell }% 8NeutralANeutral  e%"Normal 9Noteb Note   :OutputwOutput  ???%????????? ???;$Percent <Title1Title I}% =TotalMTotal %OO> Warning Text? Warning Text %XTableStyleMedium2PivotStyleLight16`ۛ Read me firstEnterprise BudgetsEProduction Plan Whole FarmgInvestments,LoansR\ Cash FlowMichigan Notes   ;) 8 Fruit Production BudgetsCash Flow Projection Farm Name:YearPastPlanningPer AcreVarietyActualBearing Pre-prodn Establish Acres BearingIndirect/Fixed CostsIncome:Acres Pre-ProductionFuel/OilYieldAcres New Establish Price perYield/Bearing Acre Utilities Price $/UnitProperty TaxesPicking Cost $/Unit InsuranceDirect Expenses:Dues/AccountingLand PreparationFumigation etc.Misc.TreesTotalStakes/support Fertilizer ChemicalsF.S.A.Supplies TransportCrop InsuranceCalculated Harvest Labor Total ExpenseDirect ExpensesPre-ProductionWhole Farm Income and Expenses DividendsRebatesRepairs MachineRepairs BuildingFarm Truck, AutoMachinery DealerEnterpriseGross MarginsCalculation SectionTotal Gross MarginsMisc labor & assoc. costsPayroll(not in Ent.Budgets) InterestExpenses!Investment Plan and Loan Service  Intermediate Long-term;Intermediate Principle and Interest - total annual paymentsTotal Debt Service:Enterprise Gross Marginall enterprises Gross Margins Total G.M.Other Farm IncomeWhole Farm ExpensesWhole Farm MarginNet Farm Revenueless = +Non Farm IncomeNet Cash availableFamily Living needsGovernment paymentsRoland P. FreundFarm Management Agent Penn State Cooperative ExtensionPurpose FunctionsStrategic planningRisk ManagementaExamining the impact of changing acres of enterprises and the ratios of bearing to new plantings 2and pre-production acres within those enterprises. -Investment planning UPredicting debt repayment ability and availability of cash for family living purposesCautionAnticipated Income TaxesQNote: Estimated taxes should be inserted in the year in which they will be PAID.3Viewing the impact of changes in yields and prices.ONo attempt has been made to calculate or predict Income and associated taxes. Approach EnterprisesLabor-Establish,PruneCustom operations[Three budgets are prepared for each enterprise. These are differentiated into "Bearing," _"Pre-production", and "Establishment" to reflect the phases in the life of a stand of trees. Whole Farm`All income and expense items which have not been included in the enterprise budgets are treated as "Whole Farm". cThe program is designed for simplicity around three separate components - Enterprises, Whole Farm,!and Investments and Loan Service.WIn the "Bearing" budget for producing trees, income is calculated from Yield and Price. YFrom income the direct or variable costs are deducted to give an Enterprise Gross Margin. Capital SalesInvestment and Loan Servicehtrack the cost of servicing the credit needs to put this plan into effect and still maintain liquididty.3It is anticipated that analysis may be added later.Navigation InstructionsLayout\The program uses numerous sheets of this "Workbook". Each is identified by the "tab" at theSheets Read me first@Describes the program and provides instruction on how to use it.Enterprise BudgetsProduction Plan[The user can elect the years (up to seven) to be examined, and then define for each chosen Zenterprise and each year, the acres which will be allocated to bearing, growing and newly [established trees. Income is calculated and shown for the bearing acres of each enterprise.WA calculation section shows the cost by stage of growth for each enterprise and deductsYthe total of these costs from the income to arrive at a Gross Margin for each enterprise.Jbottom of your screen. Simply click on the tab to move to that worksheet.Investments, Loans]Capital transactions and the cost of debt service and loan activities are accounted for here. Cash FlowWThe results are tabulated here and presented in the form of estimated annual cash-flow.calendar year.`on the "Cash Flow" sheet. The assistance of your tax accountant will be necessary for accuracy.Input instructions`These budgets are to be used for planning purposes, so the figures used should reflect your bestfestimate of average yield, price, and costs for the next five years. It is better to be conservative.KFor each enterprise use units in which that commodity is normally priced. lInput data is to be entered only in cells which are bordered in blue. Inputs will appear blue on the screen.gFor simplification combine all preparation, planting and those "Establishment" costs as one year costs.MYield / Price: Use a five year average to estimate future yields and prices.eIdeally spray records or typical application schedules should be the basis for budgeting input costs.fLabor to Establish/Prune: Do not include the value of the contribution of owner or full-time salariedFemployees here. Those will be accounted for in "Whole Farm" expenses.ZPlotting a strategy to replace trees removed for age, productivity, disease (Plumpox) etc.Alternative PlansVFirst prepare a "Base Plan" and save it "AS" a workbook which you can easily identify.aFor an alternative plan, "SAVE AS" a new named workbook and make the change you wish to observe. gAll sheets are linked so that a change of input in one sheet automatically changes all related portionsof every other worksheet.fCare should be exercised to at least observe the impact on cash-flow of one input change before makinganother change of input.ginsert all the changes of acres in subsequent years as such new plantings change from preproduction to hbearing status. Likewise if removing acres of peaches in year 2, user must remove them from years3 to 6.Total Orchard acreskThis is where production for past year plus plans for the current year and the next 5 years can be entered.fFor each year the acres of each enterprise must be carefully considered and classified as "Bearing", iPre-production or "New Established." If new plantings are changed one year, then the consequent changesj"Pre-production" stands do not have zero yield for 5 years then suddenly have full yield. If 10 acres of  the "Production Plan' sheet.fyoung trees are bearing at 30% of mature yield, then enter 7 acres as preprodutive and 3 as bearing inavailable resources.mUntil trees are close to "normal" yield we treat them as being in the pre-productive phase. Budget costs as kfor second and third year stands. To adjust for yield from such trees adjust the acres in the "Production  dPlan" sheet to reflect expected fruit yields. See line 8 of next page - Production Plan instructionsiAll planning years automatically carry forward the yield and price from the relavent "Enterprise Budget".8Line 5: Cooperative dividends and similar distributions*Line 6: Gas tax refund and other rebates.]Lines 8 - 11: Insert your own farm income categories here - custom work, rental income, etc.Eof the business and the budgeted support of the family(ies) involved.hLine 33: Partnership draws or cash withdrawn for family living. Include all income counted in line 14 _Intermediate assets are those used from two to 10 years - machinery breeding stock, fruit treesULong-term assets are those used more than 10 years - buildings, structures, land etc.Scheduled Debt ServiceSurplus equipment Real Estate Equipment8Long term Principle and Interest - total annual paymentsa Item name:b Initial cost:$cAmount of loan:dInterest rate:%e Loan period:yearsfgh Own funds usedPayments this yearMonthly paymentmonths%Pre-existing Loan Payment Obligations+New Investments - Planned Capital PurchasesLoan# of PaymtsAnnual PaymentsExisting Intermediate Long-term Tot.PaymentsNew Loan Payments Total SalesCapital Purchases Own Funds Cash RequiredPurchase PricePlanting6( Intermediate) investment required for this proposal:5(Intermediate) investment required for this proposal:*Credit Terms for New Investments and Loans DescriptionBuildings/Improvements3 (Long Term) investment required for this proposal:< 4 (Long-term) investments required for this proposal:Term Debt Service=%Inc.delayed to next yearCurrent Year Inc.NextNote:If payments are delayedthese Gross Marginsmay not agree with thefigures on next sheet.Inc. received this yearIncome next yearTerm Loans to coverEnterprise ExpensesCash Surplus/Deficit\Provision has been made for split or delayed payments which will delay income into the next `the cost for each phase of each enterprise. That may not be much better than an educated guess.c% Income delayed to next year: Estimate the % of the total payments which will not be received from9the processor or packer until the year following harvest.kPicking cost: Base this on piece-work rates but raise it to cover the other costs of hiring those workers.`in subsequent years must be entered accordingly. This is where manager's judgment must be used.iThese numbers can then be copied (Ctrl.R) across subsequent planning years or adjusted to reflect future /changes in production plans in different years.Income - farm generalIncome - non-farm &Pre-existing Loan Payment Obligations:Capital Sales:,New Investments - Planned Capital Purchases:7This figure should give a rough guide to taxable income<-)Results of plan outlined on prior sheets.7Before entering inputs on this sheet, change inputs on hPayment obligations for each loan for each year of the planning period will be automatically calculated.iFor each planned capital purchase enter the financing terms in lines c through f of the appropriate year.REach scheduled new capital obligation scheduled above copies down to this section.Input Instructions - ContinuedInterpretation of ResultseThe inputs near the bottom of this section are to enable the planner to "fine-tune" the results of an2acceptable production and capital investment plan._Tax management strategies and how capital items are depreciated can have a big impact on taxes.]Consult your tax accountant after you have looked at enough alternatives to choose your plan.Acres;Gross Margin per Acre - Based upon cash flow for each year.eThe Gross Margin is the $Income received in the year minus the budgeted expenses for each enterprise.aFor the calculations behind these numbers see the Calculation Section of "Production Plan" sheet.WThe total Gross Margin represents the net contribution all enterprises make to the farmJThis gives us an indication of the cash-flow impact of the farm operation.Apparent Surplus/DeficitRThis adjusts Farm Revenue for Non-farm Income and Family Living and Income Taxes. `However, there is a cash-flow discrepancy whenever Term Loans are used to cover enterprise costsWThis represents the "Bottom Line"cash flow value of business and family for each year.hIf this shows numbers which will be difficult or impossible to handle then the plan needs to be changed.YRe-examine the Investments and loans and try a more conservative capital investment plan.gRevise the Production Plan concentrating on long-term production potential, even if it may be necessaryMto borrow money for a few years to cover establisment costs of new plantings.REnter payments already scheduled to cover the amortized and scheduled payments on cDebt Service for obligations on notes, loans and long-term mortgages which existed before the plan.cLikewise if an old block will have declining yield, reduce the effective bearing acres accordingly.fIn this section we account for all operating income and expenses which are not already included in the Trees/VinesSUMMARYVAll income and expenses which have NOT already been included in the Enterprise Budgets[ ------------------------------------ Projected -------------------------------------------NFrom Whole Farm Margin is deducted Debt Service from "Investment,Loans" sheet.cIt is important to recognise that these results reflect only the Cash Flow impact of a chosen plan._After a preliminary viewing of the results, these should be estimated and inserted in line 32. "Orchard/Vineyard Cash Flow PlannerZTo project the cash flow for an orchard/vineyard operation over a period of seven years . )The orchardist/vigneron can use this for: Orchard/Vineyard Production PlanFamily Living Required1if all non-farm income is included in the totals..Enter in the year in which taxes will be paid.)-cThis is to keep track of planned changes in the Capital Accounts of the business. It also serves to-Results are summarized in terms of Cash-flow.#,OAny funds injected into business to cover establishment and/or operating costs.CInclude bank finance, other notes and own savings or cash reserves.VIt is better to approximate the cash flow effects of income taxes than to ignore them.\In this section we account for operating income and expenses which are not included in the IEnterprise Budgets sheet. Interest is dealt with in "Investments, Loans."dIf whole-orchard costs are averaged, then this average number must be carefully weighted to estimatePXgpreceding enterprise budgets and production plan. Capital purchases/debt service are not included here.2\Remember to include income taxes in the year in which they are PAID. This may or may not be/in the same year in which the income is EARNED.gIt is important to differentiate orchard input costs between enterprises and between production phases.TNote: Annual crops (sweet corn, pumpkins etc.) are budgeted as "bearing year" crops.aSuggestion: Print these instructions before you continue. This simplifies surfing the workbook.aRemember: when changing acres in the production plan by establishing new plantings the user must Instructions Continue ->RentMowergAlternatively, use "Past Year" for first planning year, but follow "Past Year" instructions for inputs.fFor the "Past Year" (1st Column) only enter that year's yield and actual cash receipts for that year. %dInc. received this year: Include both delayed payments from previous season and new harvest receiptsgIncome next year: Calculates the $ income from "Past year" harvest which will be paid in the next year.WThe payment delay in subsequent years are computed from the "Enterprise Budget" inputs.bSuggestion: Record actual figures for "Past year" (Col.C), then adjust planning years from these.hLine 14: All non-farm gross wages, salaries, or investment incomes which are pertinent to the cash-flowLoans for PlantingLoans for Planting(1.)e(1.) Note: This is to account for term loans used to cover establishment costs etc. of new plantings.bCapital assets, those used in the business for two or more years, are planned for in this section.dIf any of this scheduled debt is for establishing new plantings associated with the enterprises and aInclude amounts to cover all other loan obligations with "interest only" or "as available" terms.gIf using "Past Year" as first planning year, include all loan obligations planned for that year in this+U"Pre-existing Loan Payment" section and extend payments out for the applicable years.cThe results of all of these computations are summarized in the calculation section, Columns K. - S.]which had already been calculated in the Gross Margin computations of Establishment Year etc.rfreund @psu.eduEnter data in blue cells5Sample data for illustration only. Use your own facts Wood Sales Farm Market Land RentOperating InterestDavidBevAdams Co. Nat. BankParents MortgagehLenders may require this be used for debt reduction. If so adjust debt payments above. If Cash availableEnter $ amt. here:MarketAsset for sale:62 acresLandLand + ImprovementskLenders may require this to be used for debt reduction. If so adjust debt payments above. If Cash available Version: 2.0 April, 2002^User can prepare budgets for three stages of up to eight tree/vine or annual crop enterprises.QEnter $ amount you plan to get from sales of machinery, equipment, vehicles etc..NEnter $ amount you plan to get from sales of< land and fixed improvements etc..hCheck "Total Orchard Acres" (Row 71) to be sure that your planned acres are consistent and do not exceed>if this income is normally allocated to those family purposes.kEnter $amount of each planned capital sale in the appropriate category line ( 22 thru 32) and year column. \In lines 26 and 32 enter the cash available from these sales after bank leins have been met.dDescribe each item or group of items to be purchased (lines 36, 38,41, 43) in each year of the plan.jEnter $amount of each planned capital purchase in cell below the described item. (lines 37, 39, 32, 44.). icalculated in the "Production Plan" sheet, the amount must be entered in the appropriate year on line 39.:Credit terms for New Investments and Loans - Line 49 - 91.Income taxes - line 34:BLine 30 can serve as a guide to taxable income - but only a guide.-Enterprise Gross Margins (Lines 6 through 15)eTo compare Gross Margins per Acre devoted to each enterprise see lines 134 through 142 of that sheet.Whole Farm Margin - (Line22)gTo line 15 is added Other Farm Income, and whole farm expenses are deducted - from "Whole Farm " sheet.Net Farm Revenue (Line 26)"Apparent Surplus/Deficit (Line 36)iLine 38 adds the proceeds of such loans back into cash flow which enables us to get a clearer picture of:Cash Surplus/Deficit (Line 41)*Be sure that you can live with line 41 $$.:prior sheets to get a figure you can live with in line 41.(ton).Tall Spindle ApplesVertical Axe ApplesCentral Leader Apples(lb) Mechanical(lb) Hand Harvestyear 3(lb)Peaches-Penn 2002Sweet Cherries Need WorkMPicking cost 28 cents X 1.25 (fringe) X 1.153 (housing, toilets, supervision)Blue Berry FrozenBlue Berry Fresh MKCheeries Tart (2011)Michigan Notes:nDroping high and low year did not affect averages on tarts and processed sweets and only changed the price of LFresh sweets by .01. Low and High year were therefore left in the averages.Tart Cherries:Sweet Cherries: Fresh ProcessedmCost per acre do not include return to management and labor, interest on operating capital or property taxes.Prices per poundeTart and Sweet Cherry prices have been updated to be the 10 year average price from 2002-2011 (NASS).Apples (blended price) Fresh ProcessedAVGAverage minus H & L year$/buSweet Cherry budgeted cost based on relative expense comparisons in 2001 with Tart Cherries, updated to 2010 tart cherry numbers from AEC Report 639.Sweet Ch. Fresh (2011)Swt. Ch. Brine-2011Swt Ch. Proc. DK (2011)Some table errors were found in the original file from Penn State. Corrected these on 8/31. Please verify that numbers in production plan look reasonable.yThese are Extra Budgets. The data must be copied to the eight budgets in columns A thru I in order for them to function.Yr. 4 BlueberriesAverage minus H & LMichigan Example Fruit Farm5Blueberry and Grape budgets are from Mark Longstroth.Developed each of these budgets (production year only) into Finpack and in the process broke out non-harvest labor and fuel cost from Labor/Est/Prune line in budgetsNext Steps are to make minor changes in some budgets based on updated information (RAMP Tart cherry report from 2011). Slight changes to Tart/Sweet budgets.bNon harvest Labor, Non harvest equipment cost (including dep, int), Scouting Fees, and Bee rental.Tart Cherry budget revised to be consistant with 2011 RAMP Project Transition budget, including changing cost of harvest from .0437 cents/lb to .0327 cents/poundGSweet Cherry revised to mirror updates on cost with Tart cherry budget.wFuel cost have been set to $3.50 per gallon for non-harvest fuel. These cost are wrapped in Labor/Est/Prune line with Note: In these budgets all labor is included that can be attributed to the individual crops produced. Users will need to input other general labor in the "Whole Farm" Section. f*Land Prepartion includes all cost of land preperation including Machinery (all cost), fuel, and laborU*Labor-Establish,Prune includes Machinery (all cost), fuel, and all non harvest labor*Users should take care to not include labor, machinery repairs and depreciation and other cost that are already included in the Enterprise Budgets.Michigan Fruit Version Stan MooreExtension Educator MSU Extensionmoorest@msu.eduQ*Michigan version includes all fuel and machinery cost related to each enterpriserBefore entering inputs on this sheet, change inputs on prior sheets to get a figure you can live with in line 41. uCorrected Blueberry preplant budget with 9-27 version. Budget was overcharging for land preperation disking by $180.Wine Grapes (2007)tCorrected Establishment and Non-Bearing cost for Wine Grapes with 9-28 version. Updated from old Penn State Values.Apple production, and cost were all received from Phil Schwallier (2008). Price per bushel is based on a 48 lb/bu and the 10 year average price per poind from 2002-2011 (NASS). Blended price used in Enterprise BudgetJuice Grapes (2007)Added Establishment and Non-Bearing cost for Juice Grapes with 9-28 version. Data for this and Wine Grapes from Mark Longstroth.dAdjusted non-bearing cost of apples to be consistant with new Finpack Fruit budgets in 10-2 version.vAdjusted non-bearing cost of blueberries to be year 3 to be consistant with new Finpack Fruit budgets in 10-2 version.M*This is the 10-2-2012 version of this worksheet for Michigan Fruit ProducersC CyoDDbaEEA[FGGblHHqIomKLh O P RT WWYpY\^S`a@aabQbcdod5f6hiKkDon kq s{u2xtz`}MGuH?th;p3 B ď G|ccB g2ɀ RѸ}  dMbP?_*+% &RQ?'(\?(333333?)HzG?MPhaser 6350DP PSS odXXLetter (8.5 x 11")PRIV0''''D\KhC>SMTJXerox Phaser 6350DP PSLeadingEdgePageSizeLetterPageRegionDuplexNoneResolution600x600dpiD1NRX HwA7 ,MSCF,90RI//Uncompressed-Data//@ICKY[LUfv,H۸ ),K0郗.P)DI'MZ&&Z5^ުQzTc4ii?gfwvgA3=ߜ7 t.xkn ty.ps^OZA*gK(RJv}5ZY^:k$>q~@(61A v u:|!_Jkg(zH滊(y]bJKqfF5TζU 0l{Zm㑿Xk1'JYb><,AvrS]$A9:o$~.s 7ؠ _*FQ9\HC wSDm?'[.q˓^t ?4#^֙C#.9# Xi҂A/0uxn^V7L%S]X?+< &8_\g\h SаC!?ɭ(_-LUScX,x^5:Q}F)vbeIYg}ݝT`c-FyqO !{MPY%ɶO_Zz7 [ՓT.Z73$ny5̽ICOM5excel.exe moores  o "dXQ??&cU} ?} I} $} $} $} t} I} } "} $} } m} } } } } } $$} %%$} ((m} ))mR&&;&&&&&&&& & & & & &&&&&&&&&&&&&&&&&&&   CCC MpCCCD @ %@ m]   fq PPPPPPPd w m^~ @ f  Pr PPPPPPd  m f  P} PPPPPPd 9  mN  f  P PPPPPPd W    mO  f  P PPPPPPd  + P  fPPPPPPPd  mJ   fs PPPPPPPd W   VQCCCCCCCDf  t PPPPPPd  P! PPPPPPdf Pu PPPPPd  j* PPPPPPPdfPPPPPPd W  k R PPPPPPPdf v PPPPPPd W : ! P" PPPPPPdf P_ PPPPPd ; ! P S& PPPPPdfPPPPPPd < !0 P W PUPPPPdf  w PPPPPPd W  !1 P PVPPPPdf  Px PPPPPd = P W PXPPPPdf  Py PPPPPd W b P W PYPPPPdf  Pz PPPPPd  P TPPPPPdfP  P{ PPPPd e P W P]PPPPdfP  P| PPPPdP  P W P$PPPPdfPPPPPPdP /!P ZPPPPdf  e PPPPPPd > %@ ^PPPPdfP  P, PPPPPd %@ PPPPdfP  P- PPPPPd  %@ &PPPPdfPPPPPPPd$@ P \PPPPPdf  ~ PPPPPPd  lPPPPPPdfP  P PPPPPd    _(PPPPPPdfPPPPPPPd     PhPPPPPdf   PPPPPPd  m PiPPPPPdf  P PPPPPd ?   P `PPPPPdf  P PPPPPd  P PcPPPPd  h hhhhhi  nDl\RhVvhHn`vXzvbjvhvjlptLv`Vfth !!!"!#!$!%!&!'!(!)!*!+!,!-!.!/!0"1"2"3"4"5"6"7"8"9":";"<"=">"?" P Pd" PPPPdPPPPPPPP c o !P !Pj!PPPPd ! @ !~ "P "Pk"PPPPd " v "C "p #P ##PPPPd #  # #  $P $e$PPPPPd $  $ %P %Pf%PPPPd % %  &P &Pg&PPPPd & 2 & 'P 'm'PPPPPd '  ' 'q (PP (P'(PPPPd ( . (E ( )PP )Pn)PPPPd )  )?F ) *PPPPPPPd * 3 *G * I+ +P(+PPPPPPd +  + +r ,P ,Po,PPPPPd ,d -hh -4-hhhhi -  -e -s.PPPPPPPP .  . .? /?/ /  /f /  00 0  0g 0! 11 1  1D 1! 22 2  2h 2! 33 3  4?54 4 4i4 55 5  55 66 6  66 7 PP 7 P7 PPPPPP 77 868  8  86 8H89 : ; < = > ? DB l`N\^PPP^^^H\B^HBBBB&>>>JL @ A B I O P Q @ A B IPO PP Q x >@   yK moorest@msu.eduyK Fmailto:moorest@msu.eduyX;H,]ą'cggD g2ɀ  og)>D  dMbP?_*+%7 &F)&&CPenn State Farm Management Extension&?'?()\(?)Q?MPhaser 6350DP PSS o@XXLetterPRIV0''''D\KhC>SMTJXerox Phaser 6350DP PSLeadingEdgePageSizeLetterPageRegionDuplexNoneResolution600x600dpiD1NRX HwA7 ,MSCF,90RI//Uncompressed-Data//@ICKY[LUfv,H۸ ),K0郗.P)DI'MZ&&Z5^ުQzTc4ii?gfwvgA3=ߜ7 t.xkn ty.ps^OZA*gK(RJv}5ZY^:k$>q~@(61A v u:|!_Jkg(zH滊(y]bJKqfF5TζU 0l{Zm㑿Xk1'JYb><,AvrS]$A9:o$~.s 7ؠ _*FQ9\HC wSDm?'[.q˓^t ?4#^֙C#.9# Xi҂A/0uxn^V7L%S]X?+< &8_\g\h SаC!?ɭ(_-LUScX,x^5:Q}F)vbeIYg}ݝT`c-FyqO !{MPY%ɶO_Zz7 [ՓT.Z73$ny5̽ICOM5excel.exe moores  o "@XXffffff?HzG?&GU} ?} }  } m } I } I@}  } m }  } $} } }  }  } } m } $ } $ o      @ K AA ] L E FFGHHI  s E\\JPPP srrrrrrr @? @ T xU T yU V DTall Spindle Apples D? T  U@ T UV DBlue Berry Fresh MKD T T T T T T  O  ? T T T @ T T T O  ? PPP PPP  O  ?P  P@P P O  ~ @@ YY~ p@ YY( @ D D D + @ D D D d ? ~ o@ YY@~ o@ YY( Hz@D D D + Hz@ D D D d ~ X@ YY~ X@ YY j ? ~ e@ YY@~ @Y@ YY j X~ I@ YY~ I@ YY j ? X~ I@ YY@~ I@ YY j ~ f@ YY~ f@ YY  DVertical Axe Apples D ? ~ ? YY@~ $@ YY  DBlue Berry Frozen D ? P~ PP P~ PP ? P~ PP@ P~ PP    ~ \@ ~ \@   ?  ~ %FA @~ %FA     ( @D D D + @ D D D d? @(= ף0@ D D D+= ף0@D D D d V@\|@@;@@q= #;@? )@A@\@@)@A@\@ !$@@N@@? !@ "c@@?@@Px@@? "L@U@T@@L@U@T@ #(\@x@Ⱦ@@A@8@? #%@~@@@%@~@@ %&@&@? % @ a~ @Q@~ Q A@@@D@? aq<@G@J@@q<@G@J@ &~  \~  ? &~  \~   '~ <@ ~ <@ ? '~ @ b~ @    ? b@4@ @@4@  X(!] @ D D  ^_!]@ D D  ^`  ? X(!]o@ D D  ^_@!]gffff~}@ D D  ^`  E)aQI@ -,aףp= @aHz@aaףp=@a–@azGA@  ? E)a)\@ -,a(\@(a> ףP#@aaQ@a(\@(a> ףP#@  PPPP  ?PPP@P  ??(b{Gᒫ@D D Dbףp= LLLbHzbb)\u5@b– bzGAN   ??(b43333r@D D Db(\(LLLb> ףP#bbQv@b(\(b> ףP#  @ T zU T U V" DCentral Leader Apples D? @BX8VH&&,N~*TD !"#$%&'()*+,-./0123456789:;<=>? T T T T T c O  ? T  U@ T U VD Juice Grapes (2007) D !? ! O ! !? !T !T !T !@ !T !T !T !O ! "~ "P@ "YY~ "@ "YY(" '@% D"D#D" +" '@" D"D#D$d "?"PPP@PPP "O " #~ #X@ #YY#(\? #YY# j#? #~ #@#YY@YY(#h@ D#D$D#+##D#D$D%d $X~ $I@ $YY~ $4@ $YY$ j$? $~ $u@$YY@YY$j %~ %f@ %YY%( ? %YY% ( DCheeries Tart (2011)% D%? %X%YY@YY%j &? &~ &~ &} & & &? &~ &D@&YY@YY&#D &D ' '~ '\@ '~ ' @ ' ' '? 'P~ 'PP@ 'P~ 'PP ' ' ( (~ ( (~ (b@(( P@2D"D#D( +( P@( D"D#D$d(? ( (~ (9@(@ ( ( ))D@D@E@))@@)? ))@()&D#D$D)+))D#D$D%d *!**$@$@ *~ **? ***X@@*@ +"+@@u@@+/@E@B@+? +! +~ +A+@ ,#,a@a@@,@d@@,? ,",W@;@W@,@ -%-@-K@i@-? -#-@@@-@ .a.Q@A2@@.a@@.q= ףa@.? .%.@@@.@ /&~ / /~ /g@/~ //? /a/Q@!@YA/@ 0'~ 0<@ 0 00? 0&~ 0G@0\ 1b 1 1 1 1? 1'1@ 2X(!2]H@2 D%D" 2^_!2]dr@3 D%D" 2^` 2 2? 2b~ 22@ 2 3E)3a ףp=@3333 -3ap= ׇ@333aHz@333a333azGt@333aq= ףr@333a\(m@53 3 3? 3X(!3]n@4 D&D# 3^_@!3]4 D&D# 3^` 3 4 4? 4E)4aRݗ@6444 -,4a(\5@644aףp= b@644a444a644a644a64 4 5??(5bQɘ@5D"D#D35bp= ׇ5555LLL5bHz555b555bQS@ 55bq= ףr8 55b\(mg5 5 5?5PPP@P 5 6??(6b\(@)D#D$D46b(\53666LLL6bףp= b466b466b366b466b46 6 7@ 8T 88U 8T 88U8 V; D8Wine Grapes (2007)8 D8? 8@ 9T 9T 9T 9T 9T 9c 9 O 9 9? 9T 9 9U@ 9T 9U9V6D9Peaches-Penn 20029D :? :v : O : :? :T :T :T :@ :T :T :T :O : ;~ ;@ ;YY~ ;d@ ;YY(; @> D;D<D; +; ; D;D<D=d ;?;PPP@PPP ;O ; <~ <@ <YY~ <?@ <YY< j<? <~ <Y@<YY@YY(<p@9D<D=D<+<<D<D=D>d =X =YY~ =4@ =YY= j=? =~ =.@=YY@YY=j >~ >R@ >YY>A`"? >YY> A D8Swt. Ch. Brine-2011> D>? >X>YY@YY>j ?? ? ? ?? ?~ ???YY@YY?<D9?DDlvl(N"@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_ @ @~ @v@ @~ @ @ @ @ @? @P~ @PP@ @P~ @PP @ @ A A A~ Ab@(A 0@KD;D<DA +A 0y@A D;D<D=dA? AA@ A A BBB;@|@BB@&@B? BB@(B?D<D=DB+BBD<D=D>d C! CCffffT@ C~ CC? CCC6@@C@ D"DR@;@W@D@A@B@D? D!D@ E#EA@0@p@EA?@@Eb@E? E"E,@9@D@E@ F%Fk@Ҷ@@FC@d@F? F#F@_@I@I@F@ Ga~ Ga@Gffffft@~ G] AGA@*@Gq= ףa@G? G%Gd@$@$@G@ H&~ HG@ H~ Hb@ HH? HaHR@H@ I' I II? I&~ II\ Jb J J J J? J'~ JJ@ KX(!K] l@K D>D; K^_!K]u@L D>D; K^` K K? Kb KwK@ K LE)LaHz@NLLL -La@LLLa ףp@LLLaLLLaQ@LLLap= ףp@NLLaأp= @NL L L? LX(!L]I@M D?D< L^_@!L]M D?D< L^` L M M? ME)Maz@OMMM -,MaZ@OMMa8@OMMaOMMaOMMaOMMaOM M N??(Nb\I@LD;D<DLNbNNNNLLLNb ףpNNNbNNNb(\@5NNbp= ףpLNNbأp= Q N N N?NPPP@P N O??(ObА@BD<D=DMObZLOOOLLLOb8MOObMOObLOObMOObMO O P@ QT QQU QT QQUQ VT DQSwt Ch. Proc. DK (2011)Q D RT RT RT RT RT Rc R O R R  S? S{ S| S O S T~ Td@ TYY~ Td@ TYY(T 0@gDTDUDT +T 0y@W DTDUDVd U~ U?@ UYYUffffff? UYYU j VX~ V4@ VYY~ V4@ VYYV j WWA`"? WYY~ WD@ WYYW Z DQSweet Ch. Fresh (2011)W D W  X? X X Y Y~ Y @ Y~ Y @ Y Y Z Z~ Zb@ Z~ Zb@(Z [@dDTDUDZ +Z [@Z DTDUDVd [[[@&@[[@&@ \! \~ \ \~ \ ]"]@A@B@]@A@B@ ^#^A?@@^b@^qq@~ ^@^b@ _%_C@d@_d@DElvjx(N"~FTP*bNFFh` a b c d e f g l m n  `a`A@*@`q= ףa@`A@*@`q= ףa@ a&~ ab@ a~ ab@ a b' b b cb c c c  dX(!d]u@e DWDT d^_!d]P@e DWDT d^` d  eE)eaQ@deee -eap= ףp@eeeaأp= @geeaeeea(@eeeap= ףp@eeeaأp= @ge e  f  g??(gb(\@5DTDUDegbp= ףpggggLLLgbأp= eggbgggbn= #M@T ggbp= ףpggbأp= gg g  l m n^F.<" L Q O Q T3 V3  [3 Y5 em5 cL OM cN ;T  ;T  he me hg g V0>@<dmmm ggD g2ɀ $HG_x  dMbP?_*+%&F+(&CPenn State Farm Management Extension &Q?'p= ף?(Q?)Gz?MAGAGPR01 HP@g X@MSUDHP LaserJet 4M<d "MX?)\(?&(cU} $@} } m }                                    @#@B CZMichigan Example Fruit FarmCCCCCDJ  B L$M@L@M@L@N@ Op~ l@Rp@ LRt@Rx@MR|@R@R@OV ZTall Spindle Apples CCCCCDJ W J WJ W J W~  T@@ Z  T@@    L T@@   T@@   T@@   T@@   J W~ X@ n@ Z  n@   n@   n@   n@   n@   J W$ LDZ , [ DZ Z , [ DZ Z , [ DZ Z , [CDZ Z , [ DZ Z , [sDZ Z  J 3 [ D D DZ d#   DZ #   DZ #   DZ #   DZ #   DZ #   DZ  J VZVertical Axe Apples CCCCCCDJ W $DDJ WJ WJ W~ Tp@Z Tp@DTp@DTp@DTp@DTp@DJ W~ X@@Z @Z @Z @Z @Z @Z J W$ DZ ,[DZ Z,[tDZ Z,[tDZ Z,[tDZ Z,[DZ Z,[tDZ ZJ 3[DDDZ d#O DZ # DZ # DZ # DZ # DZ #F DZ JVZCentral Leader ApplesCCCCCCDJ W 0J W*J WO W~ P@Z"P@ LP@P@P@P@O W~ X@@Z#@@@@@O W'DDD+[uDZ" Z+[uDZ" Z+[uDZ" Z+[DZ" Z+[uDZ" Z+[uDZ" ZO 3[DDDZ$d# DZ" # DZ" # DZ" # DZ" # DZ" # DZ" OVXZCheeries Tart (2011)Ml@DMp@!LMt@IMx@IM|@IM@IM@IO W 0I@I@I@I@I@I@O W0$@N@$@$@$@$@$@Dl q\i000`9]~F0`9_LPF]92L ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ?  O W0 @@@@@@@!O !W~ !/@!T@!Z"!T@!!!" L!T@!!!T@!!!T@!!!T@"!"O "W"(\?"n(\?"Z#"n(\?"!"n(\?"!"n(\?"!"n(\?"!"n(\?#!#O #W'#/%@$DD!D",#[̌@YDZ( Z$,#[}@#DZ( Z$,#[@@#DZ( Z$,#[@@EDZ( Z$,#[@@#DZ( Z$,#[@@#DZ( Z$$J $3$[̌@$D!D"DZ$d#$$ DZ( #$}@$ DZ( #$}@$ DZ( #$}@$ DZ( #$}@$ DZ( #$}@% DZ( %J%V)Z8Wine Grapes (2007)%CCCCCCD&J &W 0&'J 'W '''(J (W (~ ( ()O )W~ ))T@)Z;)T@)))* L)T@)))T@)))T@)))T@*)*O *W~ *@*n@*Z<*n@*)*n@*)*n@*)*n@*)*n@+)+O +W'+,D&D*D),+[,D&Z; Z,,+[,D&Z; Z,,+[,D&Z; Z,,+[,D&Z; Z,,+[,D&Z; Z,,+[,D&Z; Z,,O ,3,[+D)D*D&Z=d#,+ D&Z; #,+ D&Z; #,+ D&Z; #,+ D&Z; #,+ D&Z; #,- D&Z; -O-V1Z8Swt. Ch. Brine-2011-CCCCCCD.O .W 0.9@@9@9@9@9@9@/O /W0/@9@@@@@@0O 0W00???????1O 1W~ 1w@1Td@1Z;1Td@1112 L1Td@111Td@111Td@111Td@212O 2W~ 2?@2nףp= ?2Z<2nףp= ?212nףp= ?212nףp= ?212nףp= ?212nףp= ?313O 3W'3HA4D.D1D2,3[>@3D.ZA Z4,3[`@3D.ZA Z4,3[@aD.ZA Z4,3[@3D.ZA Z4,3[@3D.ZA Z4,3[@3D.ZA Z44O 434[ٞ@4D1D2D.Z=d#4|@4 D.ZA #4@4 D.ZA #4@4 D.ZA #4@4 D.ZA #4@4 D.ZA #4@5 D.ZA 5J5VyZQSwt Ch. Proc. DK (2011)5CCCCCCD6J 6W 069@@9@9@9@9@9@7J 7W07@9@@@@@@8J 8W08???????9O 9W~ 9ɴ@9Td@9ZT9Td@999: L9Td@999Td@999Td@999Td@:9:O :W~ :?@:Tףp= ?:ZU:nףp= ?:9:nףp= ?:9:nףp= ?:9:nףp= ?:9:nףp= ?;9;O ;W';"@=D6D9D:,;[ffff@hD6ZT Z<,;[`@;D6ZT Z<,;[@;D6ZT Z<,;[@;D6ZT Z<,;[@;D6ZT Z<,;[@D6ZT Z<<O <3<[ffff@DD9D:D6ZVd#<|@< D6ZT #<@< D6ZT #<@< D6ZT #<@< D6ZT #<@< D6ZT #<@< D6ZT =O=VAZQSweet Ch. Fresh (2011)=CCCCCCD>O >W 0>9@@9@9@9@9@9@?O ?W0?@9@@@@@@DVlLc9\LNFc9]LLLc9aLLLc9`L@ A B C D E F G H I J K L M N O P Q R S T U V W X Y Z [ \ ] ^ _ @O @W0@???????AO AW~ AF@ATd@AZTATd@AAAB LATd@AAATd@AAATd@AAATd@BABO BWBffffff?BTffffff?BZUBnffffff?BABnffffff?BABnffffff?BABnffffff?BABnffffff?CACO CW'CL ADD>DADB,C[@D>ZZ ZD,C[w)ACD>ZZ ZD,C[ACD>ZZ ZD,C[ACD>ZZ ZD,C[ACD>ZZ ZD,C[ACD>ZZ ZDDO D3D[O @DADBD>ZVd#D2@D D>ZZ #D?@D D>ZZ #D?@D D>ZZ #D?@D D>ZZ #D?@D D>ZZ #D?@F D>ZZ EO Ee@EE2 Ah/D DDD#D+D3D;DCE2333AE9EE/LLLLLLLLETAEE4AEEE4A#EE4AEE4AEFO FF@W@FFuFFkLLLLLLLLLLLLLLLLLLF@W@FFF@W@FFF@W@FFF@W@IFF@W@~FF@W@~FGOKaa G4Gaaao Hf*HPPPPPPPdIOIVIDTall Spindle ApplesIMl@IDIMp@JIIILIMt@rIIMx@rIIM|@rIIM@rIIM@rIJO JW #J[J DZ#J[M DZ#J[J DZ#J[M DZ#J[J DZ#J[M DZ#J[K DZKO KW+#K[K DZ#K[K DZ#K[M DZ#K[K DZ#K[K DZ#K[K DZ#K[L DZLO Lg #L[Q DZ#L[L DZ#L[M DZ#L[Q DZ#L[L DZ#L[N DZ#L[M DZMO MZ 'MSsDJDKDLMSsMMMLLLMSsMMSsMMSJMMSsMMSLMNONVPD Vertical Axe ApplesNCCCCCCDOO OW #O[O DZ#O[O DZ#O[O DZ#O[O DZ#O[ DZ#O[R DZ#O[R DZPO PW+#P[P DZ#P[P DZ#P[P DZ#P[P DZ#P[P DZ#P[P DZ#P[Q DZQO Qg #Q[Q DZ#Q[T DZ#Q[Q DZ#Q[R DZ#Q[Q DZ#Q[Q DZ#Q[S DZRO RZ RSLRRRLLLRStRRSRRRSRRSRRRSRRSRSOSVuDCentral Leader ApplesSCCCCCCDTO TW #T[V DZ3#T[T DZ3#T[ DZ3#T[T DZ3#T[W DZ3#T[U DZ3#T[T DZ3UO UW+#U[U DZ3#U[U DZ3#U[U DZ3#U[U DZ3#U[U DZ3#U[U DZ3#U[V DZ3VO Vg #V[[ DZ3#V[V DZ3#V[W DZ3#V[V DZ3#V[V DZ3#V[Z DZ3#V[V DZ3WO WZ WSuWWWLLLWSTWWSWWWSWWWSuWWSWWWSRWXOXVvDCheeries Tart (2011)XCCCCCCDYO YW #Y[e@\ DZ3#Y[\ DZ3#Y[e@\ DZ3#Y[e@\ DZ3#Y[e@\ DZ3#Y[e@\ DZ3#Y[e@\ DZ3ZO ZW+#Z[@Z DZ3#Z[ٟ@Z DZ3#Z[@Z DZ3#Z[@Z DZ3#Z[@Z DZ3#Z[@Z DZ3#Z[@[ DZ3[O [g #[[\(m@c D Z3#[[\(m@[ D Z3#[[\(m@W D Z3#[[\(m@[ D Z3#[[\(m@[ D Z3#[[\(m@[ D Z3#[[\(m@] D Z3 \Z \S\5@v\\\LLL\Sq= #@v\\S\5@v\\S\5@v\\S\5@v\\S\5@v\\S\5@v\]VwD%Wine Grapes (2007)]CCCCCCD ^W #^[a D&ZL#^[^ D&ZL#^[a D&ZL#^[^ D&ZL#^[a D&ZL#^[_ D&ZL#^[a D&ZL _W+#_[_ D'ZL#_[_ D'ZL#_[_ D'ZL#_[_ D'ZL#_[_ D'ZL#_[_ D'ZL#_[` D'ZLD^!lLc9Xj2(/)))[)))])))\)))P` a b c d e f g h i j k l m n o p r s t u v w x y z { | } ~   `g #`[` D(ZL#`[a D(ZL#`[` D(ZL#`[` D(ZL#`[` D(ZL#`[` D(ZL#`[b D(ZL aZ aSwaaaLLLaSwaaSwaaSwaaSwaaSwaaSwabVxD-Swt. Ch. Brine-2011bCCCCCCD cW #c[(@f D.ZL#c[gfff@f D.ZL#c[(@f D.ZL#c[(@f D.ZL#c[(@f D.ZL#c[(@f D.ZL#c[(@f D.ZL dW+#d[̔@d D/ZL#d[@d D/ZL#d[̔@d D/ZL#d[̔@d D/ZL#d[̔@d D/ZL#d[̔@d D/ZL#d[̔@e D/ZL eg #e[أp= @e D0ZL#e[أp= @e D0ZL#e[أp= @e D0ZL#e[أp= @e D0ZL#e[أp= @e D0ZL#e[أp= @e D0ZL#e[أp= @g D0ZL fZ fSp= @xfffLLLfS*\1@xffSp= @xffSp= @xffSp= @xffSp= @xffSp= @xfgVpiZQSwt Ch. Proc. DK (2011)gCCCCCCD hW #h[(@k D6Ze#h[gfff@k D6Ze#h[(@k D6Ze#h[(@k D6Ze#h[(@k D6Ze#h[(@k D6Ze#h[(@k D6Ze iW+#i[̔@i D7Ze#i[@i D7Ze#i[̔@i D7Ze#i[̔@i D7Ze#i[̔@i D7Ze#i[̔@i D7Ze#i[̔@j D7Ze jg #j[أp= @j D8Ze#j[أp= @j D8Ze#j[أp= @j D8Ze#j[أp= @j D8Ze#j[أp= @j D8Ze#j[أp= @j D8Ze#j[أp= @l D8Ze kZ kSp= @ykkkLLLkS*\1@ykkSp= @ykkSp= @ykkSp= @ykkSp= @ykkSp= @yklVpnZQSweet Ch. Fresh (2011)lCCCCCCD mW #m[l@p D>Ze#m[@m D>Ze#m[l@m D>Ze#m[l@; D>Ze#m[l@m D>Ze#m[l@m D>Ze#m[l@m D>Ze nW+#n[̔@n D?Ze#n[@n D?Ze#n[̔@n D?Ze#n[̔@n D?Ze#n[̔@n D?Ze#n[̔@n D?Ze#n[̔@o D?Ze og #o[أp= @o D@Ze#o[أp= @p D@Ze#o[أp= @o D@Ze#o[أp= @p D@Ze#o[أp= @o D@Ze#o[أp= @p D@Ze#o[أp= @r D@Ze pZ pSR@zpppLLLpSGjl@zppSR@zppSR@zppSR@zppSR@zppSR@zp rtAr@l@rDIr@p@srrrLr@t@rr@x@rr@|@rr@@rr@@rstDITall Spindle Appless~sss LLs~ss~Kss~Jss~ss~Jss~ stzDNVertical Axe Applest~ttt LLt~tt~ tt~tt~tt~Ett~tuTDSCentral Leader Applesu~Wuuu LLu~uu~uu~uu~Tuu~uu~tuvDXCheeries Tart (2011)v~Fz@Yvvv LLv~zG{@Yvv~Hz@Yvv~Hz.M@Yvv~Hz.M@Yvv~Hz.M@Yvv~Hz.M@vw^D]Wine Grapes (2007)w~[www LLw~`ww~^ww~#ww~^ww~aww~^wxdDbSwt. Ch. Brine-2011x~Gzq@xxx LLx~QN@;xx~(\@cxx~p= ׃@cxx~p= ׃@^xx~p= ׃@xx~p= ׃@xy=9D5Swt Ch. Proc. DK (2011)!y~(\@m D;Dky~Gzu@yyy LLy~(\@hyy~p= ׃@hyy~p= ׃@3yy~p= ׃@yy~p= ׃@hyz=}D=Sweet Ch. Fresh (2011)!z~Gz@ DCDpz~(\m@tzzz LLz~X0@zz~Gz@ozz~Gz@zz~Gz@ozz~Gz@z {EB#{~QYA{ %sz{~zG@{{{ -{~Gzл@{{~֣p=A{{{~֣p=A{{~֣p=A{{~֣p=A{ |f}O}}}}LTall Spindle Apples'}}DDD}}}}}LLL}}}}}}}}}}}}}~}~Q~~}Vertical Axe Apples'~~DDD~~~~~LLL~~~~~~~~~O~~O~}Central Leader Apples'DDDLLLB"XQWV++-,*+54 ZG              E}Cheeries Tart (2011)'O@DDD O@LLLO@O@O@O@O@}Wine Grapes (2007)'D&D'D(LLLm}Swt. Ch. Brine-2011'?@D.D/D0?@LLL?@?@?@?@?@DySwt Ch. Proc. DK (2011)'?@D6D7D8?@LLL?@?@?@?@?@DzSweet Ch. Fresh (2011)'?@D>D?D@?@LLL?@?@?@?@?@ tLTall Spindle Apples pin LLL LLLLLELLVVertical Axe Applesial (sial (  LLL(L(RL(FL(EL(ELCentral Leader Applesrl L(rl L(rl L(rl L(rl L(rl L(rl L(rCheeries Tart (2011)/}7Ō@BMԤ B@v_i@tN'?@tN'?@tN'?@tN'?@tWine Grapes (2007) rap{ rap{ rap rap{ rap{ rap rap{ Swt. Ch. Brine-2011K@cX}ݑ@o~`@[x@[x@[x@[x@cpDySwt Ch. Proc. DK (2011)kVMX@cbC,6%@h LLo~`@[x@[x@[x@[x@cDzSweet Ch. Fresh (2011)]|@&@ͧ|@okd}@kd}@pkd}@hkd}@p n><=A@W+/ k M   W;  C L L Q R 3T 3V 5[ Y[ gm r r r r P Lr Ms s t  u 5v Lx Nx ' x dy gy  y D z ez { { { { { { { 5                                                      >@ggD g2ɀ 32u  dMbP?_*+%&F)&&CPenn State Farm Management Extension&zG?'333333?(?)?MAGAGPR01 HP@g ,,@MSUDHP LaserJet 4M<d "d,X??&cU} ?} }  }  }  3                               @,  ?@l@Z@p@ Z@t@Z@x@Z@|@Z@@Z@@Z k-0 k.0 kM0 8 70 M0  N0  E  S    - S   S   S   S   S   S  t0 klllllll ?9k@l@D@p@L@t@@x@@|@@@@@  ? X70 X60 X0 X/0 X00 X0j@j@j@j@j@j@j@ X0h@h@@@@@@ X0|@|@|@|@|@|@|@ X10 X0X@X@p@p@p@p@p@ O0 P0@@@@@@@ X0@@@@@@@@@@@@@@ E #S @ %S @ -S@S@S@S@S@> 0BBB&BBBBBBBBBBBBBBBBB ! " $ ' ( ) * + , - . / 012 m !q !E$0!@@@@@@@" $'()*+,-./012$8,L   /                         P L M>@    ggD g2ɀ [3k*Z  dMbP?_*+%-&F)&&CPenn State Farm Management Extension&?'Q?(?)(\?MAGAGPR01 HP@g ,,@MSUDHP LaserJet 4M<d "U,X333333?ףp= ?&U} $?} I}  }  } m } I }  } $} } I} m} I} } I} [      @: @4@ CCCCCCCD CCC MCCCDPPPJPPPd  pP  Jl@ D Jp@  LJt@ Jx@< J|@ J@G J@ Jl@ ZJp@HZJt@ZJx@ZJ|@ZJ@Z@GZ  V CCCCCCCDPPPPPPPd  p P# @8@ %  @8@   -@8@  @ @ @ @   =PPPPPPd pP $@@@  p P# p@ % ( p@    - (p@  p@  p@ p@ p@  S~ @@ L@@@@@  pP 2   h! x@ D D  x@    LL  x@  @  @  @  @  Q$ 0@0@0@0@0@  pP R$ @@@@@@@@@@  Vl C  PPPPPPd  P D    L                 S0  W P p@ D [@   L             T~ p@p@ Lp@p@p@p@p@   h! p@ D D  [@    LL        C pP > x@ - x@  x@@8@@@    P@  W  2 ! L'L2L=LH   6   VlCMl@"DMp@"LMt@"Mx@"M|@"M@"N@" pPPJJJJJJ pP ;P `PPPPPd h   V C   P  qm@   L!L,ؿ@ ؿ@2  ؿ@  ؿ@ qm@2 \   P  ?   L6LAN      V  Z  h!  D D  qm@    LLؿ@Y ؿ@C ؿ@ ؿ@Y qm@ < a pP PX W Y pP Z~ A   h- h@*D D D D  .?@R ! LLLL'LT&@ID DD!!@ D D!@ !@G .@  [~ @A U Vp@[@DFl Z'0LZ@jv4P884 8XX 68Z~< !"#$%&'()*+,./0123456789:;<=>? llllllll !V!CCCCCCCD ";"P"Ml@1D"Mp@1"""L"Mt@1""Mx@1""M|@1""M@1""@1"~ #? # # #8#$ $T$$p@$~ %@ %A % % % % % % % % )& &T&~ && & * '<'PPPPPPd~ (@ ( (() )T )~ ) )~ *@ **+D( Description*++T0D)Purchase Price++?, ,B,hhhhhhi. .//~ 0?00 D# Equipment 000 ??0 D0 0 @0 ?2D0 Equipment 0?1 11l@D"1p@1 111L1t@111x@111|@111@111@11 1 @ 1 @1 p@2 1 11 L1t@3 1 1x@4 1 1|@5 1 1@6 1 1@7 1 2 2 222222LMower22222D#22222222 22 p@<D1 2 N@3  D6!2 qm@8 D7D8y2ؿ@8cD2 D7  D8 BD2 D7D8 D2 D7D8 "B2ؿ@8oD2 D7   D8 JD2 D7 D8 D2 D7 D8 "B2ؿ@8oD2 D7  D8 JD2 D7D8 D2 D7D8 "B2ؿ@2oD2 D7$  D8 JD2 D7$D8 D2 D7$D8 "B2qm@8oD2 D70  D8 JD2 D70D8 D2 D70D8 "B 3 3 33p@3333L33333D$33333333 33 t@GD13 H@3  D63 !33 D7D8y38cD3 D7  D8 BD3 D7D8 D3 D7D8 "B33oD3 D7   D8 JD3 D7 D8 D3 D7 D8 "B32oD3 D7  D8 JD3 D7D8 D3 D7D8 "B34 oD3 D7$  D8 JD3 D7$D8 D3 D7$D8 "B 4 4 44p@4~ 4 44 x@GD14 5  D6 4 !44 D7D8y44cD4 D7  D8 BD4 D7D8 D4 D7D8 "B4UoD4 D7   D8 JD4 D7 D8 D4 D7 D8 "B44oD4 D7  D8 JD4 D7D8 D4 D7D8 "B 5 5 55@ @5~ 5@ 55 |@D15 f@5  D6 5 !58 D7D8y56 cD5 D7  D8 BD4 D7D8 D4 D7D8 "B55oD5 D7   D8 JD5 D7 D8 D5 D7 D8 "B 6 6 66@@6~ 6.@ 66 @<D16 7  D66 !64 D7D8y66cD6 D7  D8 BD6 D7D8 D6 D7D8 "B 7 7 77 @@77 7  D87 @RD17 8  D67 !79 D7D8 8 888qml@28E88;L #L L LB; B838888858888878 8 8 qm@ 8 88  -8ؿ@88 8ؿ@8 8ؿ@8 8ؿ@8 8qm@8 9 9999999 LL9999999999999; 99 :: ~ ;@ ;@ ;;; ?@; D; ; @; =D;Loans for Planting; ;? ;< <<l@D<p@< <<<L<t@<<<x@<<<|@<<<@<<<@<< < @ < @< p@= < << L<t@> < <x@? < <|@@ < <@A < <@B < = = =====> L Planting=t== Planting=t== Planting=t== Planting=t== Planting=t= = Planting= p@GD< = H@=  DA!= C DBDCy==cD= DB  DC BD= DBDC D= DBDC "B=CoD= DB   DC JD= DB DC D= DB DC "B==oD= DB  DC JD= DBDC D= DBDC "B=oD= DB$  DC JD= DB$DC D= DB$DC "B=>oD= DB0  DC JD= DB0DC D= DB0DC "B > > >>>=>D=>>=>D=>>=>D=> t@D<> H@>  DA> !>C DBDCy>>cD> DB  DC BD> DBDC D> DBDC "B>>oD> DB   DC JD> DB DC D> DB DC "B>? oD> DB  DC JD> DBDC D> DBDC "B>=oD> DB$  DC JD> DB$DC D> DB$DC "B ? ? ?? ?? x@D<? B@?  DA ? !?@ DBDCy??cD? DB  DC BD? DBDC D? DBDC "B?>oD? DB   DC JD? DB DC D? DB DC "B??oD? DB  DC JD? DBDC D? DBDC "BB'X(LJR(@Fc`0 j\ 0Ym@ABCDEFGHIJKLMNOPQRSTUVWXYZ @ @ @@"@ @ @ @@ |@D<@ @  DA @ !@@ DBDCy@CcD@ DB  DC BD? DBDC D? DBDC "B@A oD@ DB   DC JD@ DB DC D@ DB DC "B A A AA@@@ AA @GD<A A  DAA !AC DBDCyAB cDA DB  DC BDA DBDC DA DBDC "B B B BB@@"@ BB @D<B C  DAB !BC DBDC C CCC= CECC;L #L L LB; BC>CCCCC@CCACCBC C C DC CC  -CC C=C CC CCC CCC D DDDDDDD LLD>DDDDD>DDFDD> DE~ F@FF D(Buildings/Improvements FFF ?@FDF F @FFEHDFBuildings/Improvements F? FG GGl@RDGp@GGGLGt@<GGx@GGG|@<GG@GG@<G G @ G @G p@H G GG LGt@I G Gx@J G G|@K G G@L G G@M G H H HHHHHHLHHHHHHHHHHHHHH HH p@DG H H  DL!H N DMDNyHNcDH DM  DN BDH DMDN DH DMDN "BHHoDH DM   DN JDH DM DN DH DM DN "BHNoDH DM  DN JDH DMDN DH DMDN "BHIoDH DM$  DN JDH DM$DN DH DM$DN "BHNoDH DM0  DN JDH DM0DN DH DM0DN "B I I IIOIIIL)@IOIIOIIIIIOIII II t@RDGI J  DLI !IN DMDNyIIcDI DM  DN BDI DMDN DI DMDN "BINoDI DM   DN JDI DM DN DI DM DN "BIKoDI DM  DN JDI DMDN DI DMDN "BIIoDI DM$  DN JDI DM$DN DI DM$DN "B J J J J~ J JJ x@RDGJ ^@J  DL J !JN DMDNyJIcDJ DM  DN BDJ DMDN DJ DMDN "BJJoDJ DM   DN JDJ DM DN DJ DM DN "BJK oDJ DM  DN JDJ DMDN DJ DMDN "B K K K K~ K @ KK |@RDGK L  DL K !KN DMDNyKIcDK DM  DN BDJ DMDN DJ DMDN "BKJoDK DM   DN JDK DM DN DK DM DN "B L L L L~ L$@ LL @GDGL L  DLL !LM DMDNyLNcDL DM  DN BDL DMDN DL DMDN "B M M M M~ M@ MM @RDGM N  DLM !MO DMDN N NNNHNENN;L #L L LB; BNNNNJNNKNNLNNMNN N HN NN  -NN NN N3N N N NHN O OOOIOOO LLOOOIOOOOOIOOQOP~ Q@QQ D* Real Estate QQQ ?@QDQ Q @QSDQ Real Estate Q?R RRl@<DGRp@R RRRLRt@RRRx@RRR|@RRR@RRR@RR R @ R @R p@S R RR LRt@T R Rx@U R R|@V R R@W R R@X R S S SSSSSSLSSSSSSSSSSSSSS SS p@G DR S S  DW!S Y DXDYySScDS DX  DY BDS DXDY DS DXDY "BSYoDS DX   DY JDS DX DY DS DX DY "BSSoDS DX  DY JDS DXDY DS DXDY "BSKoDS DX$  DY JDS DX$DY DS DX$DY "BSToDS DX0  DY JDS DX0DY DS DX0DY "B T T TTTTTTLTZTTTTTZTTTTTZTT t@GDRT T  DWT !TY DXDYyTTcDT DX  DY BDT DXDY DT DXDY "BTToDT DX   DY JDT DX DY DT DX DY "BTU oDT DX  DY JDT DXDY DT DXDY "BTYoDT DX$  DY JDT DX$DY DT DX$DY "B U U UUU x@GDRU U  DW U !UV DXDYyUUcDU DX  DY BDU DXDY DU DXDY "BUToDU DX   DY JDU DX DY DU DX DY "BUUoDU DX  DY JDU DXDY DU DXDY "B V V VVV |@DRV V  DW V !VV DXDYyVYcDV DX  DY BDU DXDY DU DXDY "BVW oDV DX   DY JDV DX DY DV DX DY "B W W WWW @GDRW W  DWW !WY DXDYyWX cDW DX  DY BDW DXDY DW DXDY "B X X XXX @ DRX Y  DWX !XY DXDY Y YYYS YEYY;L #L L LB; BYTYYYYYVYYWYYXYY Y ZY YY  -YIY YSY YCY YY YSY Z ZZZZZZZ LLZTZZZZZTZZYZZT Z:0L ZL D6        BW             1 5  >   X  P LZ M>!@<)))ggD g2ɀ 5^w3~  dMbP?_*+%*&COrchard Planner)&&CPenn State Extension Farm Management&?'p= ף?(\(\?) ףp= ?MAGAGPR01 HP@g X@MSUDHP LaserJet 4M<d "UXp= ף?zG?&DcU} ?} }  } } } $} I 5                                 @ @ t EZMichigan Example Fruit FarmLl@ZLp@ZLt@ZLx@ZL|@ZL@ZL@ Z ?3CCCCCDZsTall Spindle ApplesxZsyZsyZsy Zsy ZsyZsz Zs ZtVertical Axe ApplesxZtyZtyZtyZtyZtyZtzZtZuCentral Leader ApplesxZuyZuyZuyZuyZuyZuzZu ZvCheeries Tart (2011) xFz@ Zv yzG{@ Zv yHz@ Zv yHz.M@Zv yHz.M@ Zv yHz.M@ Zv zHz.M@ Zv ZwWine Grapes (2007) xZw yZw yZw y Zw yZw yZw z Zw  ZxSwt. Ch. Brine-2011 xGzq@ Zx yQN@ Zx y(\@ Zx yp= ׃@ Zx yp= ׃@ Zx yp= ׃@ Zx zp= ׃@ Zx =ZySwt Ch. Proc. DK (2011) p(\@ Zy PGzu@ Zy P(\@ Zy Pp= ׃@ Zy Pp= ׃@ Zy Pp= ׃@ Zy dp= ׃@ Zy =ZzSweet Ch. Fresh (2011) Gz@ Zz h(\m@ Zz hX0@Zz hGz@ Zz hGz@ Zz hGz@ Zz iGz@ Zz ?5{QYAZ{|zG@Z{|Gzл@Z{|֣p=AZ{|֣p=AZ{|֣p=AZ{}֣p=AZ{uuuuuuu ?CjZ jZ jZ jZ jZ jZ jZ  E !QYA DDzG@ LLGzл@֣p=A֣p=A֣p=A֣p=A mG ?Dw @Zw @Zw@Zw@Zw@Zw@Zw@Z mHwwwwwww ?E!wԣp= A DDwУp=@ LLwX @wGz@wGz@wGz@wGz@ mGwwwwwww ?w h@Z w.?@Z wLT&@Zw!@Zw!@Zw!@ Zw.@Z mwwwwwww ?F!wԣp=A DDw<4m LLw-9.w~@w~@w1@wo0@ mIwwwwwww ?JwZ wZ wZ wZ wZ wZ wZ  mHwwwwwww ?K!wԣp=A# DDw<4m# LLw-9.#w~@#w~@#w1@#wo0@#   mGwwwwwww  % Lw@Z!w@Z!w@Z!w@Z!w@Z!w@Z!w@%Z!DlQ&""$#!"&%&&&&&4 !"#$%&'()*+,-./01234 mG wwwwwww !X[0! ! & "mH"wwwwwww #? '#vGz @(DDD!#v<48(###LLL#vsK (##vgQ@(##vgQ@(##vp3@(##vDcÒ@(# $mI $%m %?%u%Z?%u%Z?%u%Z?%u%Z?%u%Z?%u%Z?%uZ9 &m?uuuuuuu ' ' CCCD (?(vGz @ ((( LL(v<48 ((vsK ((vgQ@ ((vgQ@ ((vp3@ ((vDcÒ@ ( ( ? ( u( hhhi)j*+,-./012334.Y&P& .  4      G t     z s {  R  E P LT M        '        D    {    {    {              p            }          h                     V * R I   G  % ( ( ( x>@<d%%%ggD g2ɀ /7ݍ  dMbP?_*+%&ffffff?'ffffff?(?)?"333333?333333? &<3U} I/          q BH@L@P@T@X@\@`@d@h@l@ -?Mb?~ @@Zd;O?~jt?L7A`? r? jt? 5@>@  B _@[@@Y@ V@?Y@``@]@\@ ^@   +? S㥛? MbX9? 5^I ? /$? 1Zd?~ 8@ A`"? Fx? L7A`?      X9v? ʡE? rh|?~ ? ?5^I ? oʡ? J +? S㥛? ^I +? Fx? S?~ @ On?~ X@  %C?~ 3@ B`"? 5@8@ (\? A@5@>@A@  ~jt?~ l@ K7A?~  @ #~j?@!@ˡE?jt?A`"? rh? l? y&1? X9v? ~jt?q= ףp@+η?Q@ q  q q q$@^@@`@d@@e@j@ffffff@@e@d@@e@j@  qK7?qV-? qBN@U@V@?a@d@T@E@^@^@  q&1?qjt?     ,^|TT8*x "$%'(*+,-. q "q $q %q 'q (q * + , - .v>@///ggD Oh+'0HPl Roland P. FreundMoore, StanleyMicrosoft Excel@z{@*@u՜.+,D՜.+, PX  R$Penn State Cooperative Extension Read me firstEnterprise BudgetsProduction Plan Whole FarmInvestments,Loans Cash FlowMichigan Notes'Cash Flow'!Print_Area  Worksheets Named Ranges 8@ _PID_HLINKSAh]ymailto:moorest@msu.edu  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGIJKLMNOQRSTUVWRoot Entry F WorkbookWSummaryInformation(HDocumentSummaryInformation8P