PRODUCED STORES LEDGER - 10960-Nov-1968

(Revised: 11/1968)

Stock records will be kept for products that are produced locally by farming or processing units operated by the General Fund.

The quantity and value of items produced will be posted from the Production Advice form to stock records for the products.

The quantity of farm products issued will be posted form the Requisition for <a href="http://www.documents.dgs.ca.gov/dgs/fmc/pdf/std115.pdf">Storeroom Supplies, STD. Form 115</a>, to stock records for the products. The "Issued" portion of the stock record for produced stores will include three analysis columns; (1) Feeding; (2) Production; (3) Sold. Postings to the "Production" column will be coded to indicate consuming unit.

At the end of each fiscal year the values of (1) the ending inventory and (2) farm products issued to each consuming unit will be determined for each farm product. These values will be determined as follows:

<ol>

<li>An average unit price will be determined for each farm product by adding the value on hand at the beginning of the year and the value produced during the year and dividing this total value by the total of the quantity on hand at the beginning of the year and quantity produced during the year.</li>

<li>The value of each farm product on hand will be determined by multiplying the quantity on hand at the end of the year by the average unit price. The value of each farm product issued for feeding will be determined by multiplying the total quantity issued for feeding by the average unit price.</li>

</ol>

The value of each farm product sold will be determined similarly. The value of each farm product issued to each consuming unit other than feeding and surplus sales will be determined similarly except that before the multiplication can be made the quantity issued to each of these consuming units will be determined from the coded postings in the "Production" column of the "Issued" portion of the stock record. See Section 10980 for summarizing the value of all farm products issued to each consuming unit.

An adjustment will be made for odd cent differences. The amount of this adjustment will be determined for each farm product by comparing the sum of the value of the ending inventory and the value of units issued with the sum of the value of the beginning inventory and the value of units produced. The amount of any odd cent differences will be added or subtracted for each farm product to either the value of the ending inventory or the value of the major consuming unit whichever is the larger.

Physical inventory adjustments for produced stores will be charged or credited to the consuming unit in proportion to use of the particular product. The method of taking physical inventories and reviewing inventory adjustments, is the same as for purchased stores (see <a href="https://www.dgs.ca.gov/Resources/SAM">SAM 10860</a>).

<tbody>

WORKSHEET-FARMING AND PROCESSING OPERATING EXPENSES (CURRENT) F.Y.

</td>

</tr>

</td>

ADD

</td>

SUBTRACT

</td>

</tr>

Operating Expenses Allotment

</td>

Purchased Stores Inventory (Beginning of FY)

</td>

Purchased Store Inventory- In transit (Beginning of FY)

</td>

Appropriation Expenditures, (Current FY)

</td>

Advance Deliveries(End of FY)

</td>

Net value of Donated Stores Received (Current FY)

</td>

Sub-Total

</td>

Purchased Stores Inventory (Current FY)

</td>

Purchased Stores Inventory- In transit (End of FY)

</td>

Advance Deliveries(Beginning of FY)

</td>

Operating Expense(Current FY)

</td>

</tr>

Farm General

</td>

1,000

</td>

0

</td>

1,000

</td>

300

</td>

0

</td>

2,300

</td>

1,100

</td>

200

</td>

0

</td>

1,000

</td>

</tr>

Hog Ranch

</td>

1,000

</td>

700

</td>

12,000

</td>

0

</td>

300

</td>

14,000

</td>

500

</td>

300

</td>

200

</td>

13,000

</td>

</tr>

Orchard

</td>

1,000

</td>

0

</td>

3,000

</td>

0

</td>

0

</td>

4,000

</td>

900

</td>

0

</td>

0

</td>

3,100

</td>

</tr>

Vegetable Garden

</td>

2,000

</td>

1,000

</td>

13,000

</td>

100

</td>

300

</td>

16,400

</td>

400

</td>

0

</td>

0

</td>

16,000

</td>

</tr>

Stable & Tractor

</td>

0

</td>

400

</td>

3,000

</td>

900

</td>

0

</td>

4,300

</td>

0

</td>

700

</td>

500

</td>

3,100

</td>

</tr>

Feed Processing

</td>

3,000

</td>

500

</td>

17,000

</td>

200

</td>

1,000

</td>

21,700

</td>

100

</td>

400

</td>

200

</td>

21,000

</td>

</tr>

TOTALS

</td>

8,000

</td>

2,600

</td>

49,000

</td>

1,500

</td>

1,600

</td>

62,700

</td>

3,000

</td>

1,600

</td>

900

</td>

57,200

</td>

</tr>

</tbody>

</table>

<ol>

<li>These will be the amounts used in 7 below at the end of the prior year.</li>

<li>These will be the amounts used in 8 below at the end of the prior year.</li>

<li>The appropriation expenditures for operating expenses, after posting end of year accruals, during the fiscal year just ended from the appropriation for that period. These will be determined from the Allotment Expenditure Ledger.</li>

<li>The value of advance deliveries of materials and supplies that were delivered by June 30 and that are chargeable to next year's appropriation. These will be determined by analyzing the unpaid stock received reports as of June 30 to determine the values of those stock received reports which will be settled by next year's appropriation.</li>

<li>The net value (fair value less charges) of donated materials and supplies received during the fiscal year. These will be determined by pricing and registering stocks received reports for donated materials and supplies.</li>

<li>The sum of the first five columns.</li>

<li>The value of the ending stores inventory for each farm enterprise. These amounts will be determined by pricing the units on hand (per stock records after inventory adjustments of each commodity).</li>

<li>Accounts payable for materials and supplies that had not been delivered as of the end of the fiscal year of each for each farming enterprise although they were valid accounts payable under Rule 610 of the Board of Control. These amounts will be determined by analyzing the accounts payable to determine the value of materials and supplies on order and chargeable to the current or prior year's appropriation but which have not been delivered as of June 30.</li>

<li>These will be the amounts used in 4 above at the end of the prior year.</li>

<li>Column 6 minus column 7, 8, 9.</li>

</ol>

PRODUCED STORES LEDGER - 10960-Nov-1968

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