Vanilla

A.C. = w₀L_hS_f Labour ✦59,060 Shadow wage w₀ ✦16 an hour × L_h 2,000 hours per tonne × skill factor S_f 1.85 S_f for agriculture: training ✦30,000 against ✦45,000, queue 10 hours against 48 + Σ q_iP_irλ_i Materials ✦0 A raw material, with no recipe inputs. + (D + M_o)α_e Capital ✦2,610 Depreciation and maintenance ✦1,800 per tonne × financing 1.45 × waste factor α_e 1.00 Financing is interest at 6% on equipment's average value over a 15-year life. α_e is 1.00 when maintenance hours and defects are on target. + Ep_e Energy ✦25 E 500 kWh per tonne × p_e ✦0.05 per kWh = ✦61,690

A.V. = rP*_world Accounted value ✦185,600 per tonne World price $125,000 per tonne less freight and insurance 1.02% = P* $123,725 × r 1.5 crowns per US dollar Export parity: the price at the Commonwealth border for a good it sells abroad. Observed abroad, not calculated: a wasteful producer raises only its own cost. = ✦185,600

Revenue = A.V. × Q Accounted revenue ✦1.04 bn p.a. Domestic: 1,405 t × ✦185,600 = ✦261 m Exports: 4,215 t × ✦185,600 = ✦782 m = ✦1.04 bn

Surplus = (A.V. − A.C.) × Q − levies Accounted surplus ✦579 m p.a. Revenue ✦1.04 bn − cost ✦61,690 × 5,620 t = ✦696 m Export charges ✦117 m: 15% of export revenue (federal levy and permit fee) Distributed 40% to reinvestment, 20% to the municipal aggregate and 40% swept to the Treasury. = ✦579 m