Calculation should include

• determining the income and operational and fixed costs of a livestock enterprise
• preparing a livestock enterprise budget
• analyzing a livestock enterprise budget for strengths and weaknesses
• comparing the budget to local, state, and national averages or standards
• computing the income, expenses, taxes, and profit and loss of the operation
• analyzing income statements.

Process/Skill Questions:

• What components make up the total cost of a livestock operation?

• What is the average cost of a dairy cattle operation in your area? A poultry operation? A beef cattle operation?
• How is a Schedule F completed?