Production Expenses: Measures the aggregate business cost of farming. The two main components are current farm operating expenses and overhead costs. Farm production expenses are accounted for differently in calculating farm income measures. Only production expenses paid in cash are deducted from gross farm income to derive net cash farm income. Gross farm income and net farm income include both cash and noncash production expenses. Non-cash expenses include such overhead costs as charges for depreciation and other capital consumption associated with farm buildings and other structures, motor vehicles, farm machinery and equipment, and expenses associated with farm operator dwellings.

 

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Production Expenses: Measures the aggregate business cost of farming. The two main components are current farm operating expenses and overhead costs. Farm production expenses are accounted for differently in cal . . . View Full Definition

Production Contract: These contracts specify who supplies the production inputs, the quality and quantity of the commodity to be produced, and the compensation for the producer. Under some livestock production c . . . View Full Definition

Production Coordinator: A job title for a person involved in the management side of things - lower than an Assistant Producer. Programmable Handheld the opposite of a 'dedicated handheld.'

Production Credit Association (PCA): Farm Credit System institutions that have direct lending authority to make short and intermediate term loans to eligible retail customers.