ASM 378 FINAL EXAM QUESTIONS
WITH CORRECT ANSWERS
The best way to maximize profit with farm equipment is to keep it? - ANSWER-Busy
When converting, 1 acre to ---- hectare? - ANSWER-0.405 hectare
You are cultivating a field that 2,345 ft long and it takes you 4.5 minutes to reach the
end, how fast are you traveling in mph? - ANSWER-6.0 mph
Fixed costs for machinery include: depreciation, shelter, insurance, interest, and -
ANSWER-taxes
As conditions in a field change during the day, you should also adjust your machine to
match it, why? - ANSWER-Reduce wear, reduce fuel cost, increase efficiency
Use sum-of-the-digits depreciation. You have purchased a tractor for $80,000 and it will
have a 10% salvage value after 10 years. How much depreciation can you take on year
3? - ANSWER-$10,472.72
T or F Theoretical field capacity is based on specific numbers you have kept in your
records in regards to days and time spent in the field. - ANSWER-F
Which one of these answers is NOT one of the best ways to reduce fixed costs? -
ANSWER-Use dealer incentives on new equipment
You are combining corn, but your speed sensor isn't working. You remembered the 88
rule and decided you would like to go 4.2 mph. How many seconds should it take to go
88 feet? - ANSWER-14 seconds
Using straight-line method, what is the annual depreciation for a $650,000 combine over
a 10 year life if the salvage value is 10% of the purchase price? - ANSWER-$58,500
When time is crucial, it is best to use an operator that is -----. - ANSWER-Experinced
T or F Age, wear, and obsolescence are all reasons why machines depreciate in value -
ANSWER-T
In all the costs associated with running a farm (excluding land), which one tends to be
the highest? - ANSWER-Machinery
T or F Straight-line depreciation shows the most accurate salvage value of machines -
ANSWER-F
, If machinery costs are $200 per acre each year, and you save 10% of these costs
because you have done a good job in managing them, what would your annual savings
per acre be? - ANSWER-$20 per acre
This depreciation method is more accurate for estimating the true value of a machine at
any age. - ANSWER-Sum-of-the-digits
What is the theoretical field capacity of a combine with a 40 foot head traveling 4 mph? -
ANSWER-19 acre/hr
This depreciation method reflects the actual value of a machine at any age - ANSWER-
Declining balance
A combine with a 12 meter head travels 8 km/hr. What is the theoretical field capacity in
hectare per hour. - ANSWER-11.6 ha/hr
What percentage of machine costs are fuel and lubrication, on average? - ANSWER-20-
30%
T or F Throughput capacity is a unit of measure used in determining how many acres a
disk could cover in given period of time. - ANSWER-F
You have bought a tandem grain truck for $50,000. Using sum-of-the-digits, calculate
the depreciation of the truck at the end of the first year for a 10 year life span. -
ANSWER-$8181.18
If we must use a tractor that is too big for an operation, what is something we can do to
help conserve fuel and increase our overall efficiency? - ANSWER-Speed up, throttle
down
The annual charge for insurance is assumed to be from --% to --% of the remaining
value of the machine. - ANSWER-0.25-0.5%
A producer can hire a person at $11.00 per hour. The effective field capacity for
cultivating is 10 acres per hour and you have 200 acres to till. What would the cost of
labor to get the field done. - ANSWER-$220
T or F Longer ownership of a machine raises its fixed costs - ANSWER-F
Which best describes how to increase turning efficiency of a machine? - ANSWER-
Wide headlands
T or F Full insurance is generally carried on machines that have engines - ANSWER-T
T or F Does field efficiency stay the same if speed is doubled? - ANSWER-F
WITH CORRECT ANSWERS
The best way to maximize profit with farm equipment is to keep it? - ANSWER-Busy
When converting, 1 acre to ---- hectare? - ANSWER-0.405 hectare
You are cultivating a field that 2,345 ft long and it takes you 4.5 minutes to reach the
end, how fast are you traveling in mph? - ANSWER-6.0 mph
Fixed costs for machinery include: depreciation, shelter, insurance, interest, and -
ANSWER-taxes
As conditions in a field change during the day, you should also adjust your machine to
match it, why? - ANSWER-Reduce wear, reduce fuel cost, increase efficiency
Use sum-of-the-digits depreciation. You have purchased a tractor for $80,000 and it will
have a 10% salvage value after 10 years. How much depreciation can you take on year
3? - ANSWER-$10,472.72
T or F Theoretical field capacity is based on specific numbers you have kept in your
records in regards to days and time spent in the field. - ANSWER-F
Which one of these answers is NOT one of the best ways to reduce fixed costs? -
ANSWER-Use dealer incentives on new equipment
You are combining corn, but your speed sensor isn't working. You remembered the 88
rule and decided you would like to go 4.2 mph. How many seconds should it take to go
88 feet? - ANSWER-14 seconds
Using straight-line method, what is the annual depreciation for a $650,000 combine over
a 10 year life if the salvage value is 10% of the purchase price? - ANSWER-$58,500
When time is crucial, it is best to use an operator that is -----. - ANSWER-Experinced
T or F Age, wear, and obsolescence are all reasons why machines depreciate in value -
ANSWER-T
In all the costs associated with running a farm (excluding land), which one tends to be
the highest? - ANSWER-Machinery
T or F Straight-line depreciation shows the most accurate salvage value of machines -
ANSWER-F
, If machinery costs are $200 per acre each year, and you save 10% of these costs
because you have done a good job in managing them, what would your annual savings
per acre be? - ANSWER-$20 per acre
This depreciation method is more accurate for estimating the true value of a machine at
any age. - ANSWER-Sum-of-the-digits
What is the theoretical field capacity of a combine with a 40 foot head traveling 4 mph? -
ANSWER-19 acre/hr
This depreciation method reflects the actual value of a machine at any age - ANSWER-
Declining balance
A combine with a 12 meter head travels 8 km/hr. What is the theoretical field capacity in
hectare per hour. - ANSWER-11.6 ha/hr
What percentage of machine costs are fuel and lubrication, on average? - ANSWER-20-
30%
T or F Throughput capacity is a unit of measure used in determining how many acres a
disk could cover in given period of time. - ANSWER-F
You have bought a tandem grain truck for $50,000. Using sum-of-the-digits, calculate
the depreciation of the truck at the end of the first year for a 10 year life span. -
ANSWER-$8181.18
If we must use a tractor that is too big for an operation, what is something we can do to
help conserve fuel and increase our overall efficiency? - ANSWER-Speed up, throttle
down
The annual charge for insurance is assumed to be from --% to --% of the remaining
value of the machine. - ANSWER-0.25-0.5%
A producer can hire a person at $11.00 per hour. The effective field capacity for
cultivating is 10 acres per hour and you have 200 acres to till. What would the cost of
labor to get the field done. - ANSWER-$220
T or F Longer ownership of a machine raises its fixed costs - ANSWER-F
Which best describes how to increase turning efficiency of a machine? - ANSWER-
Wide headlands
T or F Full insurance is generally carried on machines that have engines - ANSWER-T
T or F Does field efficiency stay the same if speed is doubled? - ANSWER-F
