382 FARM ACCOUNTING 



Feb. 28, 1918, using the data in the C. P. May accounts referred 

 to above. (See Illustration 67.) 



5. Construct Comparative Field Production Records for C. P. 

 May's farming operations as follows, referring to Illustration 

 68: 



(a) Field No. 1 for the three years. 



(b) Field No. 2 for the three years. 



(c) Field No. 4 for the three years. 



6. Prepare a Comparative Analysis of Swine Account from 

 the operations of C. P. May for the three years. (See Illustra- 

 tion 70.) 



REVIEW QUESTIONS 



1. Why is a careful scrutiny and intelligent interpretation of 

 cost ' accounts desirable? 



_. Compare the labor incomes of tenant and landlord opera- 

 tors on farms from which the Federal Department of 

 Agriculture has collected data. 



.'!. What average per cent profit was shown for absentee land- 

 lords in the investigation referred to in question 2? 



4. Does the word cost always mean the same thing? Hi 



5. Does the word profit always mean the same thing? 



6. State three conditions that tend to govern or affect the 



meaning of the word profit. 



7. A helpful comparison of costs or profits can be obtained only 



under what fundamental conditions? 



8. How would you proceed to "read" from a Loss and (Jain 



aiTMimt. all that is shown therein relative to the year's 

 operations? 



!>. What is the starting point for all analyses and corapa? 

 of operating results for a given period? Why? 



10. Describe the preparation of the Comparative Analysis of 



Crop Account. 



11. In studying the Comparative Analysis of Crop Account what 



conclusions may be drawn from variations in (a) the 

 cost of production, (b) the cost of production per acre, 

 (c) the cost of production per bushel, (d) the total cost 



