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Time Cost vs. Unit Cost

Last Updated: Nov 13, 2017 04:01PM EST

Time Cost vs. Unit Cost

AgSquared has set default cost measurements for each type of resource (supplies, machinery, staff) that you can add to your account:

Staff defaults to Time Cost: Staff labor can ONLY be tracked by Time ($/hour or $/minute).

Supplies defaults to Unit Cost: Typically supplies get used in specific “unit" amounts (e.g pounds of fertilizer, cubic yards of compost, number of soil blocks, length of drip tape, ounces of seed, etc)

Machinery defaults to Time Cost: It is common for the cost of operating a machine to be recorded as a time cost based on machinery’s maintenance, fuel, and operating costs.  For example, a common way to calculate the cost of operating a tractor is:
 
(Total cost of tractor ÷ by projected life span) + (average annual repairs and fuel expenses) ÷ by the average number of hours used per year = cost per hour

A similar equation could be used for a tractor implement, however would exclude a fuel cost.

If you track a machine or supply's cost differently than the default setting in AgSquared, you can change the cost measurement by clicking the down arrow next to cost tracking measurement for that resource:




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