COST OF PRODUCTION 233 
are £30, £18, and £13. No doubt A has a large situational 
value accruing from its position close to the railway 
station, and in the centre of a prosperous community, 
but a great part of the excess in the price of A is due 
to the superior quality of the land. 
The following table shows the total cost of production 
in the three cases of a crop of wheat in a particular field. 
The size of the areas in the case of A is 30 acres, while 
that for B and C is 60 acres. The estimates are calculated 
directly from the actual costs supplied by the individual 
farmers who have kept a careful record of expenditure. 
TABLE XXXVI. 
COST OF PRODUCTION ON THREE REPRESENTATIVE 
FARMS 
A. B. Cc. 
SIZE OF AREA 30 Acres 60 Acres 60 Acres 
£ 8. da £ sd £ 8s. da 
1. RENT OF LAND esi 45 0 0 54 0 0 33 0 0 
2, WAGES :— 
Labour Ae ane 1210 0 4210 0 88 15 0 
Manager's wages ave 43 10 0 43 10 0 43 10 0 
Total 26s see 56 0 0 86 0 0 81 5 0 
8, CAPITAL :— 
a) Fixed : 
Interest ... ais 12 0 0 2115 0 1513 4 
(b) Circulating : 
Horse-feed sue 10 8 0 4719 6 37 12 0 
Mauure ... fiat - 1419 0 1310 0 
Seed ... ‘isis 10 0 0 22 10 0 22 0 0 
Sacks... ats 13 4 25 0 110 0 
Twine ... eae 112 0 413 6 410 0 
Extras ... sais 0 2 6 2 7 °0 013 6 
Total on ea 23. 5 10 94 14 0 79 15 6 
4. MISCELLANEOUS :— 
(1) Up-keep hedges, 
ditches, etc. ais 200 200 20 0 
(2) Threshing ... a 13 12 0 380 1 8 22 10 0 
Total na ie 1512 0 32 1 8 24 10 0 
TOTAL COSTS... -» 1511710 28814 8 25012 8 
Cost per acre ies eee 5 1 38 416 3 43 6 
Yield in bushels... = 981 1805 1200 
Yield per acre ie is 31 30 20 
Cost per bushel... sai 0 8 3 0 3 2 0 4 2 
