Sustansyarap

Financial Statement
Financial Assessment

Notes and Assumptions

 The project will cover from 2014 up to 2024
 Sales will increase 10% yearly
 Raw materials will increase 2% yearly
 Supplies and materials will increase 2% yearly
 Salaries will increase 3% yearly
 Office Supplies will increase 2% yearly
 Utilities Expense will increase 2% yearly
 Repair and maintenance cost 5000 and will increase 2% yearly
 Advertising expense cost 4000 and will increase 2% yearly
 Insurance premium for the building cost 75,000 and will pay 25,000 yearly
 Straight line method used for depreciation expense

Sales Forecast

Assumptions:
Table 1.1
Daily Monthly Yearly
Pickled Bottle Gourd 100 2,200 26,400
Bottle Gourd Ice Cream 150 3,300 39,600

Table 1.2
Yearly Unit cost Total Sales
Pickled Bottle Gourd 26,400 ₱150.00 ₱3,960,000.00
Bottle Gourd Ice Cream 39,600 150.00 5,940,000.00
Total ₱9,900,000.00

Total Sales

Table 2
Year Total Sales
2015 ₱9,900,000.00
2016 ₱10,890,000.00
2017 ₱11,979,000.00
2018 ₱13,176,900.00
2019 ₱14,494,590.00

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Manpower Breakdown

Table 3
Direct Labor Number Gross Pay
Vegetable peeler 2 ₱15,356.00
Vegetable grater 4 30,712.00
Vegetable slicer/cutter 2 15,356.00
Mixer 1 7,678.00
Presser 2 15,356.00
Packager 2 15,356.00
Sealer 2 15,356.00
₱115,170.00
Total 15
₱1,382,040 .00 yearly
Indirect Labor
Sales Agent 2 ₱18,000.00
Driver 1 7,000.00
Utility 1 7,500.00
Security 1 7,000.00
₱39,000.00
Total 8
₱468,000.00 yearly
Administrative
Manager 1 ₱18,000.00
Bookkeeper 1 15,000.00
Marketing head 1 10,000.00
Sales head 1 10,000.00
Production head 2 20,000.00
Human resource head 1 10,000.00
₱83,000.00
Total 5
₱778,000.00 yearly
₱259,170.00
Grand Total
₱2,606,040.00 yearly

Utilities Expense

Table 4
Utilities Monthly Consumption Yearly Consumption
Electricity ₱10,000.00 ₱120,000.00
Water 600.00 7,200.00
Internet 1,500.00 18,000.00
Gasoline 4,000.00 48,000.00
Total ₱193,200.00

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Machineries and Equipment

Table 5.1
Account Title Unit Cost Unit/s Total Cost
Office equipment
Air conditioner ₱40,000.00 3 ₱120,000.00
Computer with printer 40,000.00 1 40,000.00
Electric fan 1,500.00 4 6,000.00
Calculator 300.00 2 600.00
Total ₱166,600.00

Table 5.2
Account Title Unit Cost Unit/s Total Cost
Furniture and fixtures
Office tables and chairs ₱1,000.00 1 ₱1,000.00
Filling cabinet 3,000.00 1 3,000.00
Conference tables and chairs 6,000.00 1 6,000.00
Total ₱10,000.00

Table 5.3
Account Title Unit Cost Unit/s Total Cost
Machineries
Ice cream maker ₱60,000.00 1 ₱60,000.00
Large blender 31,000.00 1 31,000.00
Vegetable cutter machine 30,000.00 2 60,000.00
Vegetable chiller 38,500.00 1 38,500.00
Vegetable washer machine 22,500.00 1 22,500.00
Coconut presser 12,000.00 2 24,000.00
Total ₱236,000.00

Table 5.4
Account Title Unit Cost Unit/s Total Cost
Equipment
Freezer ₱48,000.00 1 ₱48,000.00
Generator 30,000.00 1 30,000.00
Heat gun sealer 3,200.00 2 6,400.00
Kitchen Ware
Weighing scale 1,500.00 2 3,000.00
Liquid measuring cup 300.00 2 600.00
Stainless steel bowls 420.00 2 840.00
Measuring cups 320.00 2 640.00
Kitchen knife set 750.00 2 1,500.00
Peeler 280.00 2 560.00
Grater 200.00 4 800.00
Total ₱92,340.00

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Life of the Fixed Assets

Table 6
Depreciation
Description Qty. Total Cost Scrap Value Useful Life
Cost
Land 700,000
Building 1,300,000 130,000 10 ₱97,500.00
Air Conditioner 3 120,000.00 12,000.00 6 18,000.00
Computer with printer 1 40,000.00 4,000 6 6,000.00
Freezer 1 48,000.00 4,800 7 6,171.42
Generator 1 30,000.00 3,000 7 3,857.14
Heat gun sealer 2 6,400.00 640 10 576.00
Ice cream maker 1 60,000.00 6,000 10 5,400.00
Large blender 1 31,000.00 3,100 10 2,790.00
Vegetable cutter 1 60,000.00 6,000 10 5,400.00
machine
Vegetable chiller 1 38,500.00 3,850 10 3,465.00
Vegetable washer 1 22,500.00 2,250 10 2,025.00
machine
Coconut presser 2 24,000.00 2,400 10 2,160.00
Weighing scale 2 3,000.00 300 10 270
Furniture and fixtures 10,000.00 1,000 10 900
Delivery Van 500,000.00 50,000 10 45,000
Total Depreciation ₱199,514.56

Raw Materials and supplies

Table 7
Raw Materials Annual Volume Cost/Unit Total Cost
Bottle Gourd 16,896 pcs. ₱30.00/pc ₱506,880.00
Shallots 149 kg 40.00/kilo 5,960.00
Garlic 207 kg 90.00/kilo 18,630.00
Bell pepper 224 kg 110.00/kilo 24,640.00
Carrots 377 kg 65.00/kilo 24,505.00
Raisins 100 boxes 100.00/box 10,000.00
Ginger 264 kg 100.00/kilo 26,400.00
Sugar 1,723 kg 40.00/kilo 68,920.00
Vinegar 660 gal 100.00/gal 66,000.00
Nestle cream 13,200 pcs 50.00/250mL 660,000.00
Condensed milk 13,200 pcs 34.00/300mL 448,000.00
Total ₱1,859,935.00

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Supplier of Raw Materials

Greengold Farms Pampanga Angeles, Pampanga

Prado Farms Lubao, Pampanga

Wilson’s Instant Tree Bank San Fernando, Pampanga

Green Farms San Simon, Pampanga

SPF Koi Farm Candaba, Pampanga

Supplies and Materials

Table 8
Packaging Cost Annual Quantity Unit Cost Total Cost
Plastic Jar Container 39,600 ₱10.00 ₱396,000.00
Plastic Jar Container 26,400 6.00 158,400.00
Seal 52,800 .50 26,400.00
Label 52,800 2.00 105,600.00
Total ₱686,400.00

Office Supplies

Table 9
Particulars Quantity Unit Unit Cost Total Cost
Long Folder 12 Pcs ₱5.00 ₱60.00
Short Folder 12 Pcs 4.00 48.00
Stapler 4 Pcs 50.00 200.00
Staple wire 6 Box 8.00 48.00
Long bond paper 1 Ream 160.00 160.00
Short bond paper 1 Ream 140.00 140.00
Official receipt 12 Booklet 12.00 144.00
Delivery receipt 12 Booklet 12.00 144.00
Sales Invoice 12 Booklet 12.00 144.00
Ballpen 6 Pcs 5.00 30.00
Printer ink 1 Set 300.00 300.00
Ink cartridge 1 Set 895.00 895.00
Total ₱2,313.00

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Selling Price

Table 10.1
Pickled Bottle Gourd Cost (Local) Cost (Export)
Direct Materials ₱19.48 ₱19.48
Direct Labor 24.43 24.43
Factory Overhead 17.73 17.73
Production Cost 61.64 61.64
Mark-up 16.72 16.72
140.00 140.00
Additional Mark-up 10.00 310.00
Selling Price ₱150.00 ₱450.00

Table 10.2
Bottle Gourd Ice Cream Cost (Local) Cost (Export)
Direct Materials ₱6.00 ₱6.00
Direct Labor 18.61 18.61
Factory Overhead 17.73 17.73
Production Cost 42.34 42.34
Mark-up 25.32 25.32
110.00 110.00
Additional Mark-up 40.00 80.00
Selling Price ₱150.00 ₱190.00

Price Study (Export)

Table 11
Product Competitor 1 Competitor 2 Sustansyarap
Pickled Bottle
₱577.00 ₱615.58 ₱450.00
Gourd
Bottle Gourd Ice
₱215.00 ₱197.00 ₱190.00
Cream

Projected Sales (Export)

Table 12
Yearly Unit Cost Yearly
Pickled Bottle Gourd 3,360 pcs ₱450.00 ₱1,512,000.00
Bottle Gourd Ice Cream 3,360 pcs ₱190.00 ₱638,400.00
Total ₱2,150,400.00

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Sustansyarap
Compensation Schedule
For the year end 2014-2019

Position # Gross Pay Withholding Tax SSS Philhealth Pag-ibig Net Salaries
Manager 1 18,000 2891.75 581.30 250.00 100.00 14,176.95
Bookkeeper 1 15,000 1688.33 545.00 187.50 100.00 12,479.17
Production Head 2 20,000 2891.75 799.4 250.00 200.00 15,858.85
Marketing Head 1 10,000 848.33 399.70 125.00 100.00 8,526.97
Sales Head 1 10,000 848.33 399.70 125.00 100.00 8,526.97
HR Head 1 10,000 848.33 399.70 125.00 100.00 8,526.97
Laborers 15 115,170.00 12,649.95 5,995.5 1,875.00 1,500.00 93,149.55
Sales Agent 2 18,000 1,696.66 799.4 250.00 200.00 15,053.94
Utility 1 7,500 843.33 399.70 125.00 100.00 6,031.97
Driver 1 7,000 843.33 399.70 125.00 100.00 5,531.97
Security 1 7,000 843.33 399.70 125.00 100.00 5,531.97

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Sustansyarap
Cost of Goods Sold
For the year end 2014-2019

2015 2016 2017 2018 2019

Raw Material Used

Raw Material Used, Beginning 43,000.00 45,500 49,358.84 51,875.69
Add: Raw Materials Purchased ₱1,859,935.00 1,897,133.70 1,935,076.37 1,973,777.90 2,013,253.46
Cost of Materials Available for Sale 1,859,935.00 1,940,133.70 1,980,576.37 2,023,136.74 2,065,129.15
Less: Raw Materials Inventory, End 43,000.00 45,500.00 49,358.84 51,875.69 56,427.81
Raw Materials Used 1,816,935.00 1,894,633.70 1,931,217.53 1,971,261.05 2,008,701.34
Direct Labor 1,382,040.00 1,409,680.02 1,437,873.62 1,466,631.09 1,495,963.71
Factory Overhead 468,000.00 477,360.00 486,907.20 496,645.34 506,578.25
Depreciation Expense 199,514.56 199,514.56 199,514.56 199,514.56 199,514.56
Utilities Expense 193,200.00 197,064.00 201,005.28 205,025.11 209,125.61
Insurance Expense 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00
Repair and Maintenance Expense 5,000.00 5,100.00 5,202.00 5,306.06 5,412.18
Supplies and Materials 686,400.00 700,128.00 714,130.56 728,413.17 742,985.43
Total Manufacturing Cost 4,776,089.56 4,908,480.28 5,000,850.75 5,097,796.38 5,193,281.08
Add: Goods in Process, Beginning 368,254.98 873,748.77 678,347.25 743,844.78 786,412.44
Total Cost of Goods in Process 5,144,334.54 5,782,229.05 5,679,198.00 5,841,641.16 5,979,693.52
Less: Goods in Process, End 873,748.77 678,347.25 743,844.78 786,412.44 754,452.74
Cost of Goods Manufactured 4,270,585.74 5,103,881.8 4,935,353.22 5,055,228.72 5,225,240.78
Add: Finished Goods Beginning 187,558.07 524,887.67 475,697.87 493,457.11 501,778.65
Cost of Goods Used 4,658,143.81 5,628,769.47 5,411,051.09 5,548,685.83 5,727,019.43
Less: Finished Goods, End 524,887.67 475,697.87 493,457.11 501,778.65 487,328.41
Cost of Goods Sold ₱3,933,255.14 5153071.60 4,917,593.98 5,046,907.18 5,239,691.02

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Sustansyarap
Income Statement
For the year end 2014-2019

2015 2016 2015 2018 2019

Revenue
Sales ₱9,900,000.00 10,890,000.00 11,979,000.00 13,176,900.00 14,494,590.00
Less: Cost of goods sold 3,933,255.14 5,153,071.60 4,917,593.98 5,046,907.18 5,239,691.02
Gross Income ₱5,966,744.86 5,736,928.4 7,061,406.02 8,129,992.82 9,254,898.98

Less: Operating Expenses

Salaries and Wages ₱2,606,040.00 2,684,221.20 2,764,747.84 2,847,690.28 2,933,120.99
Utilities Expense 193,200.00 197,064.00 201,005.28 205,025.11 209,125.61
Depreciation Expense 199,514.56 199,514.56 199,514.56 199,514.56 199,514.56
Insurance Expense 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00
Office Supplies Expense 2,313.00 2,313.00 2,313.00 2,313.00 2,313.00
Advertising Expense 4,000.00 4,080.00 4,161.60 42,44.83 4,329.73
Repair and Maintenance Expense 5,000.00 5,100.00 5,202.00 5,306.06 5,412.18

Total ₱2,937,567.56 3,117,292.76 3,201,944.28 3,284,849.01 3,378,816.07

Net Income ₱1,311,087.37 998,283.41 1,395,027.75 1,710,446.02 2,040,346.53

Income before tax ₱3,029,177.30 2,619,635.64 3,859,461.74 4,845,143.81 5,876,082.91

Tax Provision 908,753.19 943,068.83 1,389,406.21 1,744,251.77 2,115,389.85
In excess of 500,000 809,336.74 678,283.40 1,075,027.78 1,390,446.02 1,720,346.53
Income tax ₱1,718,089.93 1,621,352.23 2,464,433.99 3,134,697.79 3,835,736.38

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Sustansyarap
Income Statement
For the year end 2020-2024
2020 2021 2022 2023 2024

Revenue
Sales ₱18,094,449 19,903,893.90 21,894,283.29 24,083,711.62 26,492,082.78
Less: Cost of goods sold 5,396,881.75 5,558,788.20 5,725,551.85 5,897,318.41 6,074,237.96
Gross Income ₱12,697,567.25 14,345,105.7 16,168,731.44 18,186,393.21 20,417,844.82

Less: Operating Expenses

Salaries and Wages ₱3,021,114.62 3,111,748.06 3,205,100.50 3,301,253.52 3,400,291.13
Freight-out 1,080,000.00 1,080,000.00 1,080,000.00 1,080,000.00 1,080,000.00
Utilities Expense 213,188.12 217,451.88 221,800.92 226,236.94 230,761.68
Depreciation Expense 199,514.56 199,514.56 199,514.56 199,514.56 199,514.56
Insurance Expense 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00
Office Supplies Expense 2,313.00 2,313.00 2,313.00 2,313.00 2,313.00
Advertising Expense 2,376.32 2,423.85 2,472.33 2,546.50 2,597.43
Repair and Maintenance Expense 5,520.42 5,630.83 5,743.45 5,915.75 6,034.07

Total ₱4,549,027.04 4,644,082.18 4,741,944.76 4,842,780.27 4,946,511.87

Net Income ₱3,256,445.28 3,846,388.93 4,502,178.94 5,230,572.92 6,039,106.52

Income before tax ₱8,148,540.21 9,701,023.52 11,426,786.68 13,343,612.94 15,471,332.95

Tax Provision 2,444,562.06 2,910,307.06 3,428,036.00 4,003,083.88 4,641,399.89
In excess of 500,000 2,447,532.87 2,944,327.53 3,496,571.74 4,109,956.14 4,790,826.54
Income tax ₱4,892,094.93 5,854,634.59 6,924,607.74 8,113,040.02 9,432,226.43

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