If your business has multiple enterprises and you’re only calculating the cost of production for one, you must be careful not to over-allocate expenses, such as overhead and labour expenses, to that enterprise. This will generate an inflated cost of production estimate.

Use your estimate of cost of production to compare the health of your business year on year, and then compare it against other sheep producers with similar resources to your own.

Knowing your cost of production is just the first step. Once you have a rough idea of how you are performing, measure the performance of your business in more detail and for all enterprises using the other calculators in this module.

To read more about the benefits of calculating your cost of production and for a printable version of the MMFS cost of production calculator, click here.

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Tool 1.8 AWI cost of production calculator for wool enterprises

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Tool 1.10 Indicative industry benchmarks

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MMFS Manual

Module 1 Plan for Success Module 2 Market Focused Wool Production Module 3 Market focused lamb and sheepmeat production Module 4 Capable and Confident People Module 5 Protect Your Farm’s Natural Assets Module 6 Healthy Soils Module 7 Grow More Pasture Module 8 Turn Pasture into Product Module 9 Boost Business with Breeding Module 10 Wean More Lambs Module 11 Healthy and Contented Sheep Module 12 Efficient Pastoral Production

Tool 1.9 MMFS cost of production calculator