RECORD OF EXPENSE, INCOME, AND LABOR HOURS

Practice Problems

The three SAE projects covered in this exam are: Lawn Care, Placement at Adams’ Dairy Farm, and Rabbit Production.

  1. On January 5th you worked 2 hours cleaning rabbit cages.
  1. On January 8th you worked 4 hours at Adams’ Dairy Farm and were paid $6.00 per hour. The payment was received in the form of a check.
  1. You purchased three “J” type rabbit feeders from Laswell’s Rabbit Supply for $15 each January 12th.
  1. You earned $30 working at Adams’ Dairy Farm on January 20th and continued to be paid $6.00 per hour.
  1. For the month of January you spent 10 hours feeding rabbits.
  1. You purchased a Stihl Trimmer to be used in your lawn care business for $350 from Roy D’s Saw Shop on February 10th.
  1. On February 22nd you worked for 3 hours reseeding the lawn at Laswell’s Rabbit Supply in exchange for two 50 pound bags of rabbit feed. The rabbit feed was valued at $12 per 50 pound bag.
  1. You purchased a new pair of rubber boots to be used while working at Adams’ Dairy Farm for $20 on February 26th from Whitaker’s Feed Mill.
  1. You worked 8 hours on February 28th at Adams’ Dairy Farm for $6.00 per hour.
  1. For the month of February you spent 9.5 hours feeding rabbits.
  1. On March 1st you worked 3 hours cleaning rabbit cages.
  1. You sold 3 buck rabbits to Ashley for $30 on March 10th. Ashley plans on breeding the bucks to the does she purchased last year.
  1. On March 15th you purchased 6 quarts of motor oil for $3 per quart and worked 3 hours performing maintenance on your lawn care equipment.
  1. You worked 8 hours at Adams’ Dairy Farm on March 26th in exchange for $56 of gasthat you plan on using in your lawn care SAE. The gas was valued at $3.40 per gallon.
  1. For the month of March you worked 10 hours feeding rabbits.
  1. On April 15th you purchased 5 gallons of gas for your lawnmower at $3.00 per gallon from Proctor’s Quick Mart.
  1. On April 18th you and your employee Donnie worked 6 hours mowing yards. You received a check for the job in the amount of $144 and paid Donnie $6 per hour.
  1. You purchased an LED flashlight to be used while working on the dairy for $75 on April 30th.
  1. You earned $20 from the sale of 4 weaned bunny rabbits on April 30th.
  1. You worked 6 hours at Adams’ Dairy Farm for $6 per hour on May 2nd.