Answer :
The feed only cost of gain was $209 and the breakeven per pound was $709. If Freddy sells the lamb for $11/lb, he will make a total margin of $1,215.
What is the Feed-only cost of gain?
Feed-only cost of gain: 475 lbs * $22/50 lbs = $209Breakeven per pound: $500 + $209 / 145 lbs = $709/lb
Breakeven total: $709/lb * 145 lbs = $102,805Total margin: $11/lb * 145 lbs - $102,805 = $1,215
Here are the calculations:
Average daily gain: (145 lbs - 80 lbs) / 80 days = 0.8125 lbs/day
Feed efficiency: 475 lbs / (145 lbs - 80 lbs) = 7.3077
In conclusion, Freddy's lamb gained an average of 0.8125 lbs/day and had a feed efficiency of 7.3077.
The feed only cost of gain was $209 and the breakeven per pound was $709. If Freddy sells the lamb for $11/lb, he will make a total margin of $1,215.
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