a) Explain the following terms as used in farm management: i) Farm budget ii) Gross margin iii) Net farm income (6 marks) b) A poultry farmer spent the following in one production season: cost of day-old chicks N45,000; cost of feed N120,000; cost of drugs and vaccines N15,000; labour cost N30,000; cost of equipment depreciation N10,000; miscellaneous expenses N5,000. At the end of the season, he sold eggs and birds worth N280,000. i) Calculate the Total Variable Cost (TVC) for the farmer. (3 marks) ii) Calculate the Gross Margin if the Total Revenue (TR) is N280,000 and the Total Variable Cost (TVC) excludes equipment depreciation and miscellaneous expenses. (3 marks) iii) Calculate the Net Farm Income. (3 marks)