HABLON PRODUCTION CENTER

Statement of Financial Performance

For the years ended December 31

2020 2021 2022 2023 2024

Sales (1) 1,296,600.00 1,700,060.00 2,156,980.00 2,626,500.00 2,941,200.00

Less: Cost Of Sales (2) 1,231,826.19 1,400,351.42 1,506,354.53 1,620,800.55 1,731,102.02

Gross Profit 64,773.81 299,708.58 650,625.47 1,005,699.45 1,210,097.98

Less: Operating Expense (27) 294,449.96 250,197.96 250,264.62 250,331.95 250,399.95

Operating Income (229,676.15) 49,510.62 400,360.85 755,367.51 959,698.03

Less: Finance Cost (27) 19,500.00 13,000.00 6,500.00

Net Income (Loss) after Interest (249,176.15) 36,510.62 393,860.85 755,367.51 959,698.03
Expense
Income Tax (8%) (14) 28,772.17 93,573.50 142,424.51

Net Income (Loss) (249,176.15) 36,510.62 365,088.68 661,794.01 817,273.52

 HABLON PRODUCTION CENTER

Statement of Cash Flows

For the years ended December 31

2020 2021 2022 2023 2024

Net Income (249,176.15) 36,510.62 365,088.68 661,794.01 817,273.52

Adjustment:

Depreciation Expense (28) 50,336.13 50,336.13 50,336.13 50,336.13 50,336.13

Cash Flow from Operating Activities

Increase/Decrease:

Accounts Receivable (46) (83,592.00) (24,943.20) (27,998.40) (26,006.40) (3,780.00)

Inventory (9) (76,159.74) (23,826.64) (24,136.13) (23,682.23) (13,277.04)

Refundable security deposit (20,000.00)

Increase/Decrease:

Utilities 3,999.00 20.00 20.20 20.40 20.62

Benefits 6,849.04

EWT (13) 1250

Percentage Tax (19) 3,241.50 1,008.65 1,142.30 1,173.80 786.75

Income Tax (14) 28,772.17 64,801.33 48,851.01

Net Cash Provided (Used) by Operating Activities (363,252.22) 39,105.56 393,224.95 728,437.04 900,210.99

Cash Flows from Investing Activities

Leasehold Improvement (7,194.00)

Purchase of Production Equipment (244,306.64)

Purchase of Office Equipment (27,200.00)

Purchase of Office Furniture & Fixtures (17,980.00)

Purchase of Delivery Vehicle (75,000.00)

Net Cash Provided (Used) by Investing Activities (371,680.64)

Cash Flows from Financing Activities

Owner's Investment 700,000.00

Loans 300,000.00

Payment of Loan (100,000.00) (100,000.00) (100,000.00)

Net Cash Provided (Used) by Financing Activities 900,000.00 (100,000.00) (100,000.00)

Increase Decrease in Cash 165,067.14 (60,894.44) 293,224.95 728,437.04 900,210.99

Cash Balance, Beg'g 165,067.14 104,172.70 397,397.66 1,125,834.70

Cash Balance, End'g 165,067.14 104,172.70 397,397.66 1,125,834.70 2,026,045.69

 HABLON PRODUCTION CENTER
Statement of Owner's Equity
For the years ended December 31

2020 2021 2022 2023 2024

700,000.00 450,823.85 487,334.48 852,423.16 1,514,217.16
Owner's Capital, Beg
(249,176.15) 36,510.62 365,088.68 661,794.01 817,273.52
Add: Net Income
450,823.85 487,334.48 852,423.16 1,514,217.16 2,331,490.69
Owner's Capital, End'g

HABLON PRODUCTION CENTER

Statement of Financial Position
For the Years Ended December 31

2020 2021 2022 2023 2024

ASSETS
Current Assets
Cash 165,067.14 104,172.70 397,397.66 1,125,834.70 2,026,045.69
Accounts Receivable (46) 83,592.00 108,535.20 136,533.60 162,540.00 166,320.00
Inventory (9) 76,159.74 99,986.39 124,122.51 147,804.73 161,081.77

Total Current Assets 324,818.88 312,694.29 658,053.76 1,436,179.43 2,353,447.46

Non-current Assets
Security Deposit 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00
Property, Plant and Equipment (30) 321,344.51 271,008.38 220,672.26 170,336.13 120,000.00
Total Non-Current Assets 341,344.51 291,008.38 240,672.26 190,336.13 140,000.00
TOTAL ASSETS 666,163.39 603,702.67 898,726.02 1,626,515.56 2,493,447.46

LIABILITIES AND OWNER'S EQUITY

CURRENT LIABILITY
Accrued Utilities 3,999.00 4,019.00 4,039.20 4,059.60 4,080.23
Percentage Tax (19) 3,241.50 4,250.15 5,392.45 6,566.25 7,353.00
Benefits 6,849.04 6,849.04 6,849.04 6,849.04 6,849.04
EWT (13) 1,250.00 1,250.00 1,250.00 1,250.00 1,250.00
Loans Payable (47) 100,000.00 100,000.00
Income Tax Payable (14) 28,772.17 93,573.50 142,424.51
Total Current Liability 115,339.54 116,368.19 46,302.86 112,298.39 161,956.77
NON-CURRENT LIABILITY
Loans Payable 100,000.00
Total LIABILITY 215,339.54 116,368.19 46,302.86 112,298.39 161,956.77
OWNER'S EQUITY
Owner's Equity, End 450,823.85 487,334.48 852,423.16 1,514,217.16 2,331,490.69
Total Liabilities and Owner's Equity 666,163.39 603,702.67 898,726.02 1,626,515.56 2,493,447.46
 SCHEDULE 1
PROJECTED GROSS SALES

2020 2021 2022 2023 2024

PLAIN
Unit Sold 3483 4412 5418 6300 6300

Multiplied by: Selling Price 200.00 205.00 210.00 215.00 220.00

Total 696,600.00 904,460.00 1,137,780.00 1,354,500.00 1,386,000.00
INTRICATE
Unit Sold 2400 3120 3920 4800 5760

Multiplied by: Selling Price 250.00 255.00 260.00 265.00 270.00

Total 600,000.00 795,600.00 1,019,200.00 1,272,000.00 1,555,200.00
Total Projected Gross Sales 1,296,600.00 1,700,060.00 2,156,980.00 2,626,500.00 2,941,200.00

SCHEDULE 2
COST OF SALES

2020 2021 2022 2023 2024

Raw Materials Used (3) 109,780.00 171,094.00 213,649.74 255,906.16 279,069.18
Direct Labor (10) 636,672.00 694,272.00 758,272.00 828,672.00 905,472.00
Manufacturing Overhead (7) 552,751.53 553,906.93 555,164.45 556,524.10 557,984.84
Current Production Cost 1,299,203.53 1,419,272.93 1,527,086.20 1,641,102.26 1,742,526.02

Add: Finished Good Inventory, Beg (8) 67,377.34 86,298.86 107,030.53 127,332.24
Total Goods Available for Sale 1,299,203.53 1,486,650.27 1,613,385.05 1,748,132.79 1,869,858.26
Less: Finished Goods Inventory, End (8) ₱67,377.34 ₱86,298.86 ₱107,030.53 ₱127,332.24 ₱138,756.24
Cost of Goods Sold 1,231,826.19 1,400,351.42 1,506,354.53 1,620,800.55 1,731,102.02
 SCHEDULE 3
RAW MATERIALS USED

2020 2021 2022 2023 2024

Forecasted Production 4997.05 7701.58 9529.17 11296.46 12197.1

Divided by: Meters a 1-Kilo Thread can
Produces 10 10 10 10 10
Required Kilos to be purchased 499 770 952 1129 1219
Direct Material Cost per unit
Cotton Thread ₱220.00 ₱222.20 ₱224.42 ₱226.67 ₱228.93
Total Direct Material Used ₱109,780.00 ₱171,094.00 ₱213,649.74 ₱255,906.16 ₱279,069.18

SCHEDULE 4
RAW MATERIALS PURCHASES

2020 2021 2022 2023 2024

Total Material Used (3) ₱109,780.00 ₱171,094.00 ₱213,649.74 ₱255,906.16 ₱279,069.18
Less: Raw Materials, Beg'g (9) 8,782.40 13,687.52 17,091.98 20,472.49
Add: Raw Materials, End'g (9) 8,782.40 13,687.52 17,091.98 20,472.49 22,325.53
Total Material Purchases ₱118,562.40 ₱175,999.12 ₱217,054.20 ₱259,286.68 ₱280,922.23
 SCHEDULE 5
VARIABLE MANUFACTURING OVERHEAD

2020 2021 2022 2023 2024

Utilities Expense (25) ₱17,400.00 ₱17,574.00 ₱17,749.74 ₱17,927.24 ₱18,106.51
Loss from Spoilage
2,880.12 3,861.52 4,943.30 6,125.45 7,406.92
Total Variable Manufacturing Overhead ₱20,280.12 ₱21,435.52 ₱22,693.04 ₱24,052.69 ₱25,513.43

SCHEDULE 6
FIXED MANUFACTURING OVERHEAD

2020 2021 2022 2023 2024

Rent Expense (23) 168,000.00 168,000.00 168,000.00 168,000.00 168,000.00

Repairs and Maintenance Expense (35) 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00

Depreciation Expense-F&F (29) 2,710.80 2,710.80 2,710.80 2,710.80 2,710.80

Depreciation Expense-L.I. (29) 1,151.04 1,151.04 1,151.04 1,151.04 1,151.04

Depreciation Expense-Prod Equip't (29) 24,861.33 24,861.33 24,861.33 24,861.33 24,861.33

Indirect Labor (10)
 192,000.00 192,000.00 192,000.00 192,000.00 192,000.00

SSS Contribution (42) 44,198.00 44,198.00 44,198.00 44,198.00 44,198.00

PhilHealth Contribution (43) 8,094.24 8,094.24 8,094.24 8,094.24 8,094.24

13th Month Pay 87,456.00 87,456.00 87,456.00 87,456.00 87,456.00

Total Fixed Manufacturing Overhead 532,471.41 532,471.41 532,471.41 532,471.41 532,471.41

SCHEDULE 7
TOTAL MANUFACTURING OVERHEAD

2020 2021 2022 2023 2024

Variable Manufacturing Overhead (5) 20,280.12 21,435.52 22,693.04 24,052.69 25,513.43

Fixed Manufacturing Overhead (6) 532,471.41 532,471.41 532,471.41 532,471.41 532,471.41

Total Manufacturing Overhead ₱552,751.53 ₱553,906.93 ₱555,164.45 ₱556,524.10 ₱557,984.84

 SCHEDULE 8
FINISHED GOODS INVENTORY

2020 2021 2022 2023 2024

Plain
Ending Inventory ( 8% of units produced) 278.64 352.96 433.44 504 504
Multiplied by: Product Cost 139.31 139.31 139.31 139.31 139.31
Finished Goods Inventory, End ₱38,817.34 ₱49,170.86 ₱60,382.53 ₱70,212.24 ₱70,212.24
Intricate
Ending Inventory ( 8% of units produced) 192 249.6 313.6 384 460.8
Multiplied by: Product Cost 148.75 148.75 148.75 148.75 148.75
Finished Goods Inventory, End ₱28,560.00 ₱37,128.00 ₱46,648.00 ₱57,120.00 ₱68,544.00
₱67,377.34 ₱86,298.86 ₱107,030.53 ₱127,332.24 ₱138,756.24

SCHEDULE 9
TOTAL INVENTORY

2020 2021 2022 2023 2024

Raw Materials Inventory (4) 8,782.40 13,687.52 17,091.98 20,472.49 22,325.53
Finished Goods Inventory (8) 67,377.34 86,298.86 107,030.53 127,332.24 138,756.24
TOTAL INVENTORY 76,159.74 99,986.38 124,122.51 147,804.73 161,081.77
 SCHEDULE 10
LABOR COST

2020 2021 2022 2023 2024

DIRECT LABOR
Production Worker (Plain)
Daily rate 386.00 386.00 386.00 386.00 386.00
Multiplied by: Number of Working Days 288 288 288 288 288
Total Salary per worker 111168.00 111168.00 111168.00 111168.00 111168.00
Multiplied by Number of Workers 4 4 4 4 4
Total Direct Labor (Plain) 444672.00 444672.00 444672.00 444672.00 444672.00
Production Worker (Intricate)
Rate per meter 80.00 80.00 80.00 80.00 80.00
Multiplied by: Meter Produced Annually 600 780 980 1200 1440
Total Salary per worker 48000.00 62400.00 78400.00 96000.00 115200.00
Multiplied by: Number of Workers 4 4 4 4 4
Total Direct Labor (Intricate) 192000.00 249600.00 313600.00 384000.00 460800.00
Total Direct Labor (Plain and intricate) 636672.00 694272.00 758272.00 828672.00 905472.00
INDIRECT LABOR
Production Head
Monthly Salary 12000.00 12000.00 12000.00 12000.00 12000.00
Multiplied by Number of Months 12 12 12 12 12
Annual Salary 144000.00 144000.00 144000.00 144000.00 144000.00
Delivery/Driver Personnel
Monthly Salary 4000.00 4000.00 4000.00 4000.00 4000.00
Multiplied by Number of Months 12 12 12 12 12
Annual Salary 48000.00 48000.00 48000.00 48000.00 48000.00
Total Indirect Labor 192000.00 192000.00 192000.00 192000.00 192000.00
 SCHEDULE 11
EXPANDED WITHHOLDING TAX (RENTALS)

2020 2021 2022 2023 2024

Rent Expense (22) 240,000.00 240,000.00 240,000.00 240,000.00 240,000.00
Tax Rate 5% 5% 5% 5% 5%
EWT on rentals 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00
Total Labor Cost 828672.00 886272.00 950272.00 1020672.00 1097472.00

SCHEDULE 12
EXPANDED WITHHOLDING TAX (BOOKKEEPING AGENT)

2020 2021 2022 2023 2024

Professional Fee (32) 60,000.00 60,000.00 60,000.00 60,000.00 60,000.00
Tax Rate 5% 5% 5% 5% 5%
EWT on bookkeeper 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00

SCHEDULE 13
ACCRUED EWT

2020 2021 2022 2023 2024

Total EWT Expense (11)(12) 15,000.00 15,000.00 15,000.00 15,000.00 15,000.00
Add:Accrued EWT Expense, Beg. 1,250.00 1,250.00 1,250.00 1,250.00
Total 15,000.00 16,250.00 16,250.00 16,250.00 16,250.00
Less:Payments
Prior 1,250.00 1,250.00 1,250.00 1,250.00
Current 13,750.00 13,750.00 13,750.00 13,750.00 13,750.00
Total 13,750.00 15,000.00 15,000.00 15,000.00 15,000.00
Accrued EWT Expense, End 1,250.00 1,250.00 1,250.00 1,250.00 1,250.00

SCHEDULE 14
INCOME TAX

2020 2021 2022 2023 2024

Net Income (249,176.15) 36,510.62 393,860.85 755,367.51 959,698.03

Less: Exempt 250,000.00 400,000.00 800,000.00

Taxable Income 143,860.85 355,367.51 159,698.03

Multiply by tax
20% 20% 25%
rate

Tax due 28,772.17 71,073.50 39,924.51

Add: 22,500.00 102,500.00

Total Income tax 28,772.17 93,573.50 142,424.51

 SCHEDULE 15
OFFICE SUPPLIES EXPENSE

2020 2021 2022 2023 2024

Ballpen ₱70.00 ₱70.00 ₱70.00 ₱70.00 ₱70.00
Pencil 45.00 45.00 45.00 45.00 45.00
Stapler 300.00 300.00 300.00 300.00 300.00
Correction Tape 100.00 100.00 100.00 100.00 100.00
Calculator 400.00 400.00 400.00 400.00 400.00
Puncher 136.00 136.00 136.00 136.00 136.00
Long Bondpaper 180.00 180.00 180.00 180.00 180.00
Short Bondpaper 160.00 160.00 160.00 160.00 160.00
Notebook 40.00 40.00 40.00 40.00 40.00
Long Folder 50.00 50.00 50.00 50.00 50.00
Adhesive Tape 40.00 40.00 40.00 40.00 40.00
Sticky Notes 100.00 100.00 100.00 100.00 100.00
Record Book 300.00 300.00 300.00 300.00 300.00
Official Receipt 150.00 150.00 150.00 150.00 150.00
Total 2,071.00 2,071.00 2,071.00 2,071.00 2,071.00
Multiplied by: Number of Months 4 4 4 4 4
Total Office Supplies Expense ₱8,284.00 ₱8,284.00 ₱8,284.00 ₱8,284.00 ₱8,284.00
 SCHEDULE 16
CLEANING MATERIALS EXPENSE

2020 2021 2022 2023 2024

Broom ₱70.00 ₱70.00 ₱70.00 ₱70.00 ₱70.00
Dustpan 100.00 100.00 100.00 100.00 100.00
Toilet Brush 65.00 65.00 65.00 65.00 65.00
Hand Soap 1,200.00 1,200.00 1,200.00 1,200.00 1,200.00
Round Rag 10.00 10.00 10.00 10.00 10.00
Floor Rag 300.00 300.00 300.00 300.00 300.00
Trash Bins 650.00 650.00 650.00 650.00 650.00
Total Cleaning Materials Expense ₱2,395.00 ₱2,395.00 ₱2,395.00 ₱2,395.00 ₱2,395.00

SCHEDULE 17
PERMITS AND LICENSES

2020 2021 2022 2023 2024

DTI Registration ₱500.00 ₱500.00 ₱500.00 ₱500.00 ₱500.00
BIR Registration 500.00 500.00 500.00 500.00 500.00
Barangay Clearance 50.00 50.00 50.00 50.00 50.00
Fire and Safety Clearance 649.00 649.00 649.00 649.00 649.00
Sanitary Permit 90.00 90.00 90.00 90.00 90.00
Mayor’s Permit 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00
Documentary Stamp Tax 50.00 50.00 50.00 50.00 50.00
Total Permits and Licenses ₱6,839.00 ₱6,839.00 ₱6,839.00 ₱6,839.00 ₱6,839.00
 SCHEDULE 18
PERCENTAGE TAX ON GROSS SALES

2020 2021 2022 2023 2024

Total Sales (1) 1,296,600.00 1,700,060.00 2,156,980.00 2,626,500.00 2,941,200.00

Multiply by: Other Percentage Tax Rate 3% 3% 3% 3% 3%

Total Percentage Tax on Gross Sales 38,898.00 51,001.80 64,709.40 78,795.00 88,236.00

SCHEDULE 19
ACCRUED PERCENTAGE TAX

2020 2021 2022 2023 2024

Total PT Expense (18) 38,898.00 51,001.80 64,709.40 78,795.00 88,236.00

Add:Accrued PT Expense, Beg. 3,241.50 4,250.15 5,392.45 6,566.25
Total 38,898.00 54,243.30 68,959.55 84,187.45 94,802.25
Less:Payments
Prior 3,241.50 4,250.15 5,392.45 6,566.25
Current 35,656.50 46,751.65 59,316.95 72,228.75 80,883.00
Total 35,656.50 49,993.15 63,567.10 77,621.20 87,449.25
Accrued PT Expense, End 3,241.50 4,250.15 5,392.45 6,566.25 7,353.00
 SCHEDULE 20
PROJECT COST

2020 2021 2022 2023 2024

Panelist Hononaria ₱4,800.00 - - - -
Adviser’s Hononaria 2,000.00 - - - -
Research Cost 543.00 - - - -
Printing Fee 1,800.00 - - - -
Hardbound Book 1,000.00 - - - -
Copyright Fee 200.00 - - - -
Layout Fee 700.00 - - - -
Total Project Cost ₱11,043.00 - - - -

SCHEDULE 21
ADVERTISING EXPENSE

2020 2021 2022 2023 2024

Total Advertising Expense 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00

SCHEDULE 22
RENT EXPENSE

2020 2021 2022 2023 2024

Monthly Rent ₱20,000.00 ₱20,000.00 ₱20,000.00 ₱20,000.00 ₱20,000.00
Multiplied by: Number of Months 12 12 12 12 12
Total Rent Expense ₱240,000.00 ₱240,000.00 ₱240,000.00 ₱240,000.00 ₱240,000.00
 SCHEDULE 23
ALLOCATION OF RENT EXPENSE

2020 2021 2022 2023 2024

Factory Overhead (70%) ₱168,000.00 ₱168,000.00 ₱168,000.00 ₱168,000.00 ₱168,000.00
Administrative Expense (30%) 72,000.00 72,000.00 72,000.00 72,000.00 72,000.00
Total Rent Expense ₱240,000.00 ₱240,000.00 ₱240,000.00 ₱240,000.00 ₱240,000.00

SCHEDULE 24
UTILITIES EXPENSE

2020 2021 2022 2023 2024

Electricity ₱1,500.00 ₱1,515.00 ₱1,530.15 ₱1,545.45 ₱1,560.91
Multiply by: No. of Operating Months 12 12 12 12 12
Total 18,000.00 18,180.00 18,361.80 18,545.42 18,730.87
Water 500.00 505.00 510.05 515.15 520.30
Multiply by: No. of Operating Months 12 12 12 12 12
Total 6,000.00 6,060.00 6,120.60 6,181.81 6,243.62
Telephone and Internet 1,999.00 1,999.00 1,999.00 1,999.00 1,999.00
Multiply by: No. of Operating Months 12 12 12 12 12
Total 23,988.00 23,988.00 23,988.00 23,988.00 23,988.00
Total Utilities Expense ₱47,988.00 ₱48,228.00 ₱48,470.40 ₱48,715.22 ₱48,962.50
 SCHEDULE 25
ALLOCATION OF UTILITIES EXPENSE

2020 2021 2022 2023 2024

Production Expense
Electricity (70%) ₱12,600.00 ₱12,726.00 ₱12,853.26 ₱12,981.79 ₱13,111.61
Water (80%)
4,800.00 4,848.00 4,896.48 4,945.44 4,994.90
Total Production expense
17,400.00 17,574.00 17,749.74 17,927.24 18,106.51

General and Administrative Expense

Electricity (30%)
5,400.00 5,454.00 5,508.54 5,563.63 5,619.26
Water (20%)
1,200.00 1,212.00 1,224.12 1,236.36 1,248.72
Total Administrative Expense
6,600.00 6,666.00 6,732.66 6,799.99 6,867.99
Selling Expense
Telephone and Internet Expense (100%)
23,988.00 23,988.00 23,988.00 23,988.00 23,988.00
Total Selling Expense
23,988.00 23,988.00 23,988.00 23,988.00 23,988.00
Total Utilities Expense ₱47,988.00 ₱48,228.00 ₱48,470.40 ₱48,715.22 ₱48,962.50
 SCHEDULE 26

ACCRUED EXPENSES

2020 2021 2022 2023 2024

Accrued Electricity (38) 1,500.00 1,515.00 1,530.15 1,545.45 1,560.92

Accrued Water (39) 500.00 505.00 510.05 515.15 520.30
Accrued Telephone and Internet Expense (37) 1,999.00 1,999.00 1,999.00 1,999.00 1,999.00
Accrued Philhealth (43) 1,349.04 1,349.04 1,349.04 1,349.04 1,349.04
Accrued SSS Contribution (42) 5,500.00 5,500.00 5,500.00 5,500.00 5,500.00
Accrued Expanded Withholding Tax (13) 1,250.00 1,250.00 1,250.00 1,250.00 1,250.00
Total Accrued Expenses 12,098.04 12,118.04 12,138.24 12,158.64 12,179.27
 SCHEDULE 27
OPERATING EXPENSES

ADMINISTRATIVE EXPENSE 2020 2021 2022 2023 2024

Cleaning Materials Expense (18) 2,395.00 2, 395.00 2, 395.00 2, 395.00 2, 395.00
Rent Expense (23) 72,000.00 72,000.00 72,000.00 72,000.00 72,000.00
Utiities Expense (25) 6,600.00 6,666.00 6,732.66 6,799.99 6,867.99
Repairs and Maintenance (35) 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
Depreciation Expense-F&F (29) 6,325.20 6,325.20 6,325.20 6,325.20 6,325.20
Depreciation Expense-Leasehold Imp.
287.76 287.76 287.76 287.76 287.76
(29)
Office Supplies Expense (16) 8,284.00 8,284.00 8,284.00 8,284.00 8,284.00
Permits and Licenses (17) 6,839.00 6,839.00 6,839.00 6,839.00 6,839.00
Training Fee 30,880.00
Project Cost (20) 11,043.00 - - - -
Professional Fees (32) 60,000.00 60,000.00 60,000.00 60,000.00 60,000.00

SELLING EXPENSE
Utilities Expense (24) 23,988.00 23,988.00 23,988.00 23,988.00 23,988.00
Gasoline Expense (36) 24,000.00 24,000.00 24,000.00 24,000.00 24,000.00
Advertising Expense (21) 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00
Depreciation Expense-Delivery Vehicle
15,000.00 15,000.00 15,000.00 15,000.00 15,000.00
(28)
Shipping Fee (33) 23,808.00 23,808.00 23,808.00 23,808.00 23,808.00

Total Operating Expense 294,449.96 250,197.96 250,264.62 250,331.95 250,399.95

FINANCE COST
Interest Expense 19,500.00 13,000.00 6,500.00
 SCHEDULE 28
DEPRECIATION EXPENSE

ANNUAL
COST USEFUL 2020 2021 2022 2023 2024
PER UNIT LIFE DEPRECIATION
Office Furnitures
and Equipment
Office table
3,600.00 5 720.00 720.00 720.00 720.00 720.00 720.00
Office Chair
3,000.00 5 600.00 600.00 600.00 600.00 600.00 600.00
Fire
Extinguisher 3,380.00 5 676.00 676.00 676.00 676.00 676.00 676.00
Wooden
Cabinet 6,500.00 5 1,300.00 1300.00 1300.00 1300.00 1300.00 1300.00
Sofa
1,500.00 5 300.00 300.00 300.00 300.00 300.00 300.00
Wall Fan
10,200.00 5 2,040.00 2040.00 2040.00 2040.00 2040.00 2040.00
Computer Set
17,000.00 5 3,400.00 3400.00 3400.00 3400.00 3400.00 3400.00
Total
9,036.00 9036.00 9036.00 9036.00 9036.00 9036.00
Leasehold
Improvements 7,194.00 5 1,438.80 1,438.80 1,438.80 1,438.80 1,438.80 1,438.80
Delivery
Vehicle 75,000.00 5 15,000.00 15000.00 15000.00 15000.00 15000.00 15000.00
Production
Equipment
Hablon
Machine 240,000.00 10 24,000.00 24,000.00 24,000.00 24,000.00 24,000.00 24,000.00

Dalaganan 4,306.64 5 861.33 861.33 861.33 861.33 861.33 861.33

Total 24,861.33 24,861.33 24,861.33 24,861.33 24,861.33 24,861.33

Total
Depreciation
Expense 50,336.13 50,336.13 50,336.13 50,336.13 50,336.13 50,336.13
 SCHEDULE 29
ALLOCATION OF DEPRECIATION EXPENSE

2020 2021 2022 2023 2024

FURNITURE AND FIXTURES

Factory Overhead (30%) 2710.8 2710.8 2710.8 2710.8 2710.8
General & Administratives Expense (70%) 6325.2 6325.2 6325.2 6325.2 6325.2
Total Dep'n Expense-F&F 9036 9036 9036 9036 9036
LEASEHOLD IMPROVEMENTS

Factory Overhead (80%) 1,151.04 1,151.04 1,151.04 1,151.04 1,151.04

General & Administrative Expense (20%) 287.76 287.76 287.76 287.76 287.76
Total Depreciation Expense- Leasehold
Improvement 1,438.80 1,438.80 1,438.80 1,438.80 1,438.80
DELIVERY VEHICLE
Selling Expenses (100%) 15000 15000 15000 15000 15000
PRODUCTION EQUIPMENT
Factory Overhead (100%) 24861.33 24861.33 24861.33 24861.33 24861.33

Total Depreciation Expense 50,336.13 50,336.13 50,336.13 50,336.13 50,336.13

 SCHEDULE 30
PROPERTY, PLANT AND EQUIPMENT

2020 2021 2022 2023 2024

Office Furniture and Equipment (31) 36,144.00 27,108.00 18,072.00 9,036.00 -

Leasehold Improvements (31) 5,775.20 4,316.40 2,877.60 1,438.80 -

Delivery Vehicle (31) 60,000.00 45,000.00 30,000.00 15,000.00 -

Production Equipment (31) 219,445.31 194,583.98 169,722.66 144,861.33 120,000.00

Total Property, Plant and Equipment ₱321,364.51 ₱271,008.38 ₱220,672.26 ₱170,336.13 ₱120,000.00
 SCHEDULE 31
NET BOOK VALUE

Additional
2020 Cost per Unit Cost Accum. Depreciation Net Book Value
Office Furnitures and Equipment
Office table
3,600.00 - 720.00 2,880.00
Office Chair
3,000.00 - 600.00 2,400.00
Fire Extinguisher
3,380.00 - 676.00 2,704.00
Wooden Cabinet
6,500.00 - 1,300.00 5,200.00
Sofa
1,500.00 - 300.00 1,200.00
Wall Fan
10,200.00 - 2,040.00 8,160.00
Computer Set
17,000.00 - 3,400.00 13,600.00

Leasehold Improvements 7,194.00 - 1,438.80 5,755.20

Delivery Vehicle 75,000.00 - 15,000.00 60,000.00

Production Equipment -

Hablon Machine 240,000.00 - 24,000.00 216,000.00

Dalaganan 4,306.64 - 861.33 3,445.31

Total 371,680.64 50,336.13 321,344.51

 Additional
2021 Cost per Unit Cost Accum. Depreciation Net Book Value
Office Furnitures and Equipment
Office table
3,600.00 - 1,440.00 2,160.00
Office Chair
3,000.00 - 1,200.00 1,800.00
Fire Extinguisher
3,380.00 - 1,352.00 2,028.00
Wooden Cabinet
6,500.00 - 2,600.00 3,900.00
Sofa
1,500.00 - 600.00 900.00
Wall Fan
10,200.00 - 4,080.00 6,120.00
Computer Set
17,000.00 - 6,800.00 10,200.00

Leasehold Improvements 7,194.00 - 2,877.60 4,316.40

Delivery Vehicle 75,000.00 - 30,000.00 45,000.00

Production Equipment

Hablon Machine 240,000.00 - 48,000.00 192,000.00

Dalaganan 4,306.64 - 1,722.66 2,583.98

Total 371,680.64 100,672.26 271,008.38

 Additional
2022 Cost per Unit Cost Accum. Depreciation Net Book Value
Office Furnitures and Equipment
Office table
3,600.00 - 2,160.00 1,440.00
Office Chair
3,000.00 - 1,800.00 1,200.00
Fire Extinguisher
3,380.00 - 2,028.00 1,352.00
Wooden Cabinet
6,500.00 - 3,900.00 2,600.00
Sofa
1,500.00 - 900.00 600.00
Wall Fan
10,200.00 - 6,120.00 4,080.00
Computer Set
17,000.00 - 10,200.00 6,800.00

Leasehold Improvements 7,194.00 - 4,316.40 2,877.60

Delivery Vehicle 75,000.00 - 45,000.00 30,000.00

Production Equipment

Hablon Machine 240,000.00 - 72,000.00 168,000.00

Dalaganan 4,306.64 - 2,583.98 1,722.66

Total 371,680.64 151,008.38 220,672.26

 Additional
2023 Cost per Unit Cost Accum. Depreciation Net Book Value
Office Furnitures and Equipment
Office table
3,600.00 - 2,880.00 720.00
Office Chair
3,000.00 - 2,400.00 600.00
Fire Extinguisher
3,380.00 - 2,704.00 676.00
Wooden Cabinet
6,500.00 - 5,200.00 1,300.00
Sofa
1,500.00 - 1,200.00 300.00
Wall Fan
10,200.00 - 8,160.00 2,040.00
Computer Set
17,000.00 - 13,600.00 3,400.00

Leasehold Improvements 7,194.00 - 5,755.20 1,438.80

Delivery Vehicle 75,000.00 - 60,000.00 15,000.00

Production Equipment - -

Hablon Machine 240,000.00 - 96,000.00 144,000.00

Dalaganan 4,306.64 - 3,445.31 861.33

Total 371,680.64 201,344.51 170,336.13

 Additional
2024 Cost per Unit Cost Accum. Depreciation Net Book Value
Office Furnitures and Equipment
Office table
3,600.00 - 3,600.00 -
Office Chair
3,000.00 - 3,000.00 -
Fire Extinguisher
3,380.00 - 3,380.00 -
Wooden Cabinet
6,500.00 - 6,500.00 -
Sofa
1,500.00 - 1,500.00 -
Wall Fan
10,200.00 - 10,200.00 -
Computer Set
17,000.00 - 17,000.00 -

Leasehold Improvements 7,194.00 - 7,194.00 -

Delivery Vehicle 75,000.00 - 75,000.00 -

Production Equipment - -

Hablon Machine 240,000.00 - 120,000.00 120,000.00

Dalaganan 4,306.64 - 4,306.64 -

Total 371,680.64 251,680.64 120,000.00

 SCHEDULE 32
PROFESSIONAL FEES

2020 2021 2022 2023 2024

Monthly Fee 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00

Multiplied by: Months of
Service 12 12 12 12 12

Total Professional Fees 60,000.00 60,000.00 60,000.00 60,000.00 60,000.00

SCHEDULE 33
SHIPPING FEE

2020 2021 2022 2023 2024

Shipment per month 4 4 4 4 4

Multiplied by: Shipping Fee per Shipment 496 496 496 496 496
Total 1984 1984 1984 1984 1984
Multiplied by: Months 12 12 12 12 12
Total Shipping Fee 23,808.00 23,808.00 23,808.00 23,808.00 23,808.00

SCHEDULE 34
REPAIRS AND MAINTENANCE EXPENSE

2020 2021 2022 2023 2024

Total Repairs and Maintenance Cost ₱5,000.00 ₱5,000.00 ₱5,000.00 ₱5,000.00 ₱5,000.00
 SCHEDULE 35
ALLOCATION OF REPAIRS AND MAINTENANCE COST

Total R&M Cost Percentage 2020 2021 2022 2023 2024

Factory Overhead (34) 5,000.00 80% 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00

Administrative Expense (34) 5,000.00 20% 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
Total Repairs and
Maintenance 10,000.00 100% 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00

SCHEDULE 36
GASOLINE EXPENSE

2020 2021 2022 2023 2024

Monthly Consumption 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00
Multiplied by: No. of Months 12 12 12 12 12
Total Gasoline Expense 24,000.00 24,000.00 24,000.00 24,000.00 24,000.00
 SCHEDULE 37
ACCRUED TELEPHONE AND INTERNET EXPENSE

2020 2021 2022 2023 2024

Total Telephone and Internet Expense (25) 23,988.00 23,988.00 23,988.00 23,988.00 23,988.00
Add: Accrued Telephone and Internet Expense,
Beg. - 1,999 1,999 1,999 1,999
Total 23,988 25,987 25,987 25,987 25,987
Less:Payments
Prior - 1,999 1,999 1,999 1,999
Current 21,989 21,989 21,989 21,989 21,989
Total 21,989 23,988 23,988 23,988 23,988
Accrued Telephone and Internet Expense, End ₱1,999.00 ₱1,999.00 ₱1,999.00 ₱1,999.00 ₱1,999.00

SCHEDULE 38
ACCRUED ELECTRICITY EXPENSE

2020 2021 2022 2023 2024

Total Electricity Expense (25) ₱18,000.00 ₱18,180.00 ₱18,361.80 ₱18,545.42 ₱18,730.87
Add: Accrued Electricity Expense, Beg. - 1,500.00 1,515.00 1,530.15 1,545.45
Total 18,000.00 19,680.00 19,876.80 20,075.57 20,276.32
Less:Payments
Prior - 1,500.00 1,515.00 1,530.15 1,545.45
Current 16,500.00 16,665.00 16,831.65 16,999.97 17,169.95
Total 16,500.00 18,165.00 18,346.65 18,530.12 18,715.40
Accrued Electricity Expense, End ₱1,500.00 ₱1,515.00 ₱1,530.15 ₱1,545.45 ₱1,560.92
 SCHEDULE 39
ACCRUED WATER EXPENSE

2020 2021 2022 2023 2024

Total Water Expense (25) ₱6,000.00 ₱6,060.00 ₱6,120.60 ₱6,181.81 ₱6,243.62
Add: Accrued Water Expense, Beg. - 500.00 505.00 510.05 515.15
Total 6,000.00 6,560.00 6,625.60 6,691.86 6,758.77
Less:Payments
Prior - 500.00 505.00 510.05 515.15
Current 5,500.00 5,555.00 5,610.55 5,666.66 5,723.32
Total 5,500.00 6,055.00 6,115.55 6,176.71 6,238.47
Accrued Water Expense, End ₱500.00 ₱505.00 ₱510.05 ₱515.15 ₱520.30

SCHEDULE 40
SSS CONTRIBUTION
Production
Head
Employer Employee Total
No. of Monthly Annual Total
YEAR Monthly Monthly Monthly EC
Employees Salary Contribution Contribution
Contribution Contribution Contribution
ER EE ER ER EE
2019 1
12,000 884 436 884 436 10 10,608 5,232 15,840
2020 1
12,000 884 436 884 436 10 10,608 5,232 15,840
2021 1
12,000 884 436 884 436 10 10,608 5,232 15,840
2022 1
12,000 884 436 884 436 10 10,608 5,232 15,840
 2023 1
12,000 884 436 884 436 10 10,608 5,232 15,840

Production
Workers-
Plain
2019 4
9,264 700 345 2,799 1,381 10 33,590 16,570 50,160
2020 4
9,264 700 345 2,799 1,381 10 33,590 16,570 50,160
2021 4
9,264 700 345 2,799 1,381 10 33,590 16,570 50,160
2022 4
9,264 700 345 2,799 1,381 10 33,590 16,570 50,160
2023 4
9,264 700 345 2,799 1,381 10 33,590 16,570 50,160
 SCHEDULE 41
PHILHEALTH CONTRIBUTION
Production
Head
Employer Employee Total
No. of Monthly Annual Total
YEAR Monthly Monthly Monthly
Employees Salary Contribution Contribution
Contribution Contribution Contribution
ER EE ER EE
2019 1
12,000 165 165 165 165 1,980 1,980 3,960
2020 1
12,000 165 165 165 165 1,980 1,980 3,960
2021 1
12,000 165 165 165 165 1,980 1,980 3,960
2022 1
12,000 165 165 165 165 1,980 1,980 3,960
2023 1
12,000 165 165 165 165 1,980 1,980 3,960

Produciton
Workers-
Plain
2019 4
9,264 127 127 510 510 6,114 6,114 12,228
2020 4
9,264 127 127 510 510 6,114 6,114 12,228
2021 4
9,264 127 127 510 510 6,114 6,114 12,228
2022 4
9,264 127 127 510 510 6,114 6,114 12,228
2023 4
9,264 127 127 510 510 6,114 6,114 12,228
 SCHEDULE 42
ACCRUED SSS EXPENSE

2020 2021 2022 2023 2024

Total SSS Expense (40) 66,000 66,000 66,000 66,000 66,000

Add:Accrued SSS Expense, Beg. - 5,500 5,500 5,500 5,500
Total 66,000 71,500 71,500 71,500 71,500
Less:Payments
Prior - 5,500 5,500 5,500 5,500
Current 60,500 60,500 60,500 60,500 60,500
Total 60,500 66,000 66,000 66,000 66,000
Accrued SSS Expense, End 5,500 5,500 5,500 5,500 5,500

SCHEDULE 43
ACCRUED PHILHEALTH CONTRIBUTION

2020 2021 2022 2023 2024

Total PHILHEALTH Contract Expense (41) 16,188.48 16,188.48 16,188.48 16,188.48 16,188.48

Add:Accrued PHILHEALTH Expense, Beg. - 1,349.04 1,349.04 1,349.04 1,349.04

Total 16,188.48 17,537.52 17,537.52 17,537.52 17,537.52

Less:Payments

Prior - 1,349.04 1,349.04 1,349.04 1,349.04

Current 14,839.44 14,839.44 14,839.44 14,839.44 14,839.44

Total 14,839.44 16,188.48 16,188.48 16,188.48 16,188.48

Accrued PHILHEALTH Expense, End 1,349.04 1,349.04 1,349.04 1,349.04 1,349.04

SCHEDULE 44
PRODUCTION CAPACITY (Plain)

2020 2021 2022 2023 2024

No. of Production Hours 2,304 2,304 2,304 2,304 2,304
No. of Duration for 10- meter 22 22 22 22 22
105 105 105 105 105
No. of Meters Produce per Batch 15 15 15 15 15
No. of Habloneras 4 4 4 4 4
Total Annual Production Capacity 6,300 6,300 6,300 6,300 6,300

PRODUCTION CAPACITY (Intricate)

2020 2021 2022 2023 2024

No. of Production Hours 2,304 2,304 2,304 2,304 2,304
No. of Duration for 10- meter 24 24 24 24 24
96 96 96 96 96
No. of Meters Produce per Batch 15 15 15 15 15
No. of Habloneras 4 4 4 4 4
Total Annual Production Capacity 5,760 5,760 5,760 5,760 5,760
 SCHEDULE 45
REQUIRED PRODUCTION (In Units)

2020 2021 2022 2023 2024

Plain
Budgeted Sales 3483 4412 5418 6300 6300
Add: Desired FGI, End (8% of Sales) 278.64 352.96 433.44 504.00 504.00
Expected Spoilage (.5% of Sales) 17.42 22.06 27.09 31.50 31.50
Total Needs 3779.06 4787.02 5878.53 6835.50 6835.50
Less: FGI, Beg. - 278.64 352.96 433.44 504.00
Required Production 2393.05 4508.38 5525.57 6402.06 6331.50
Intricate
Budgeted Sales 2400 3120 3920 4800 5760
Add: Desired FGI, End (8% of Sales) 192.00 249.60 313.60 384.00 460.80
Expected Spoilage (.50% of Sales) 12.00 15.60 19.60 24.00 28.80
Total Needs 2604.00 3385.20 4253.20 5208.00 6249.60
Less: FGI, Beg. 192.00 249.60 313.60 384.00
Required Production 2604.00 3193.20 4003.60 4894.40 5865.60
Total Required Production 4997.05 7701.58 9529.17 11296.46 12197.10
 SCHEDULE 46

ACCOUNTS RECEIVABLE (PLAIN)

2020 2021 2022 2023 2024

Total Sales (1) 696,600.00 904,460 1,137,780 1,354,500 1,386,000

Percentage of Credit Sales 30% 30% 30% 30% 30%

Total Credit Sales 208,980.00 271,338.00 341,334.00 406,350.00 415,800.00

Add: Accounts Receivable, Beg. - 83,592.00 108,535.20 136,533.60 162,540.00

Total Accounts Receivable 208,980.00 354,930.00 449,869.20 542,883.60 578,340.00

Less:Collections

From Current Accounts Receivable (%) 125,388.00 162,802.80 204,800.40 243,810.00 249,480.00

From Previous Accounts Receivable (%) - 83,592.00 108,535.20 136,533.60 162,540.00

Accounts Receivable 83,592.00 108,535.20 136,533.60 162,540.00 166,320.00

 SCHEDULE 47
LOAN PAYABLE

2020 2021 2022 2023 2024

Loan Payable, beg 300,000.00 200,000.00 100,000.00
Less: Principal Payments 100,000.00 100,000.00 100,000.00
Loan Payable, end 200,000.00 100,000.00
Interest Expense (6.5 %) 19,500.00 13,000.00 6,500.00

Loans Payable Allocation:

Current 100,000.00 100,000.00
Non-current 100,000.00