Schedule 1

Direct Materials

2021 2022 2023 2024 2025

Direct Materials Inclusive of VAT 741,519 778,594.95 817,524.70 858,400.93 901,320.98

Inflation Rate 5.00% 817,524.70 858,400.93 901,320.98 946,387.03

Input VAT 12% 79,448.46 83,420.89 87,591.93 91,971.53 96,570.10

Direct Material Exclusive of VAT 662,070.54 695,174.06 729,932.77 766,429.40 804,750.87

500
 Schedule 2
Direct Materials Used
2021 2022 2023 2024 2025
0 198,621.16 268,138.57 299,421.40 319,755.24
Direct Materials, Beg
662,070.54 695,174.06 729,932.77 766,429.40 804,750.87
Direct Materials Purchases
662,070.54 893,795.22 998,071.33 1,065,850.80 1,124,506.12
Direct Materials Available for use
30% 198,621.16 268,138.57 299,421.40 319,755.24 337,351.83
Less: Direct Materials, End
463,449.38 625,656.66 698,649.93 746,095.56 787,154.28
DM Used
24,000.00 26,400 28,800 32,400 36,000
Divided by: Annual Production
19.31 23.70 24.26 23.03 21.87
Direct Materials Used per Unit
 Schedule 3
Direct Labor per Unit
2021 2022 2023 2024 2025
No. of Factory Worker 2 2 2 2 2

No. of Working Days 240.00 240 240 240 240

Labor Rate 373.00 373.00 373.00 373.00 373.00

Annual Labor Cost 179,040 179,040 179,040 179,040 179,040

Salaries Expense 179,040 179,040 179,040 179,040 179,040

Divided by: Annual Production unit 24,000 26,400 28,800 32,400 36,000

Direct labor per Unit 7.46 6.78 6.22 5.53 4.97

 Schedule 4
Annual Benefits of the Workers
Government Mandated Compensation Company Benefit
Year SSS PhilHealth PAG-IBIG
13th Month Pay
Employer Employee Employer Employee Employer Employee
2021 530.00 250.00 100.00 100.00 50.00 50.00 106,678.00

2022 530.00 250.00 100.00 100.00 120.00 120.00 106,678.00

2023 530.00 250.00 100.00 100.00 120.00 120.00 106,678.00

2024 530.00 250.00 100.00 100.00 120.00 120.00 106,678.00

2025 530.00 250.00 100.00 100.00 120.00 120.00 106,678.00

13th
Annual Total Annual
Year Workers SSS PhilHealth PAG-IBIG Month
Benefits Benefits
Pay
2021 2 780.00 200.00 240.00 106,678.00 121,318.00 242,636.00

2022 2 780.00 200.00 240.00 106,678.00 121,318.00 242,636.00

2023 2 780.00 200.00 240.00 106,678.00 121,318.00 242,636.00

2024 2 780.00 200.00 240.00 106,678.00 121,318.00 242,636.00

2025 2 780.00 200.00 240.00 106,678.00 121,318.00 242,636.00

 Schedule 5
Indirect Materials
2021 2022 2023 2024 2025
96,230.00 101,041.50 106,093.58 111,398.25 116,968.17
Indirect Materials (Inclusive of VAT)
Inflation Rate 5.00% 106,093.58 111,398.25 116,968.17 122,816.57
11,547.60 12,731.23 13,367.79 14,036.18 14,737.99
Input VAT 12%
84,682.40 93,362.35 98,030.46 102,931.99 108,078.59
Indirect Materials (Exclusive of VAT)
 Schedule 6
Factory Machinery and Equipment
Input VAT Exclusive
Qty Cost
12% of VAT
Freezer 1 4750 508.93 4,241.07

Generator 1 6,800.00 728.57 6,071.43

LPG tank 1 5,000.00 535.71 4,464.29

Weighing scale 2 295 63.21 526.79

1,836.43 15,303.57
Total

Schedule 7
Factory Furnitures and Fixtures
Qty Cost Input VAT 12% Exclusive of VAT
Stainless Working Table 1 1500 160.71 1,339.29
Chairs 3 300 96.43 803.57
Supplies and Raw
1 9,000.00 964.29 8,035.71
Material Cabinet
Total 1,221.43 10,178.57
 Schedule 8
Factory Tools
Qty Cost Input VAT 12 % Exclusive of VAT
Meat grinder 2 500 107.14 892.86

Stock pot set 1 329 35.25 293.75

Spoon 1 60 6.43 53.57

Mixing bowl 2 100 21.43 178.57

Measuring spoon 5 35 18.75 156.25

Knife 4 50 21.43 178.57

Chopping board 4 100 42.86 357.14

Frying pan 2 88 18.86 157.14

Total 272.14 2,267.86

Schedule 9
Office Equipments
Qty Cost Input VAT 12 % Exclusive of VAT
Computer 1 15000 1,607.14 13,392.86
Electric fan 2 700 150.00 1,250.00
Printer 1 4,000.00 428.57 3,571.43
Total 2,185.71 18,214.29
 Schedule 10
Office Furniture and Fixtures
Input Vat Exclusive
Qty. Cost
12% of VAT
Office table 1 1500 160.71 1339.29
Office chair 1 900 96.43 803.57
Wall clock 1 150 16.07 133.93
Filing cabinet 1 6,000.00 642.86 5357.14
Total 916.07 7,633.93
 Schedule 11
Office Supplies
2021 2022 2023 2024 2025
Ballpen 140 140.00 140.00 140.00 140.00
Brown envelop –long 120 120.00 120.00 120.00 120.00
Brown envelop – short 90 90.00 90.00 90.00 90.00
Coupon bond – long 380 380.00 380.00 380.00 380.00
Coupon bond – short 335 335.00 335.00 335.00 335.00
Daily time sheet 57 57.00 57.00 57.00 57.00
Fastener 12 12.00 12.00 12.00 12.00
Folder – long 90 90.00 90.00 90.00 90.00
Marker 40 40.00 40.00 40.00 40.00
Printer ink 1,120.00 1,120.00 1,120.00 1,120.00 1,120.00
Pencil 60 60.00 60.00 60.00 60.00
Tape 210 210.00 210.00 210.00 210.00
Columnar book 82 82.00 82.00 82.00 82.00
Office Supplies Inclusive of VAT 2,736.00 2,736.00 2,736.00 2,736.00 2,736.00
Inflation rate (5%) 2,872.80 2,872.80 2,872.80 2,872.80
Input VAT 12% 328.32 344.74 344.74 344.74 344.74
Office Supplies Exclusive of VAT 2,442.86 2,528.06 2,528.06 2,528.06 2,528.06
 Schedule 12
Maintenance Supply
2021 2022 2023 2024 2025
Trash can 500 500.00 500.00 500.00 500.00
Garbage Bag (Large) 2,350.00 2,350.00 2,350.00 2,350.00 2,350.00
Garbage Bag (Small) 1,800.00 1,800.00 1,800.00 1,800.00 1,800.00
Floor Mop 210 210.00 210.00 210.00 210.00
Dust Pan 100 100.00 100.00 100.00 100.00
Doormat 1,100.00 1,100.00 1,100.00 1,100.00 1,100.00
Broom 300 300.00 300.00 300.00 300.00
Dishwasher liquid 675 675.00 675.00 675.00 675.00
Gloves 50 50.00 50.00 50.00 50.00
Hairnet 60 60.00 60.00 60.00 60.00
Apron 200 200.00 200.00 200.00 200.00
Soap 855 855.00 855.00 855.00 855.00
Sponge 640 640.00 640.00 640.00 640.00
Misc. Expense (Inclusive of VAT) 8,840.00 8,840.00 8,840.00 8,840.00 8,840.00
Inflation rate (5%) 9,282.00 9,282.00 9,282.00 9,282.00
Input VAT 12% 1060.8 1,113.84 1,113.84 1,113.84 1,113.84
Misc. Expense (Exclusive of VAT) 7,779.20 8,168.16 8,168.16 8,168.16 8,168.16
Allocated to Factory 70% 5445.44 5717.71 5717.71 5717.71 5717.71
Allocated to Office 30% 2333.76 2450.45 2450.45 2450.45 2450.45
 Schedule 13
Utilities Expense
Monthly 2021 2022 2023 2024 2025
Electricity 5,000.00 60,000.00 60,000.00 60,000.00 60,000.00 60,000.00
Water 4,000.00 48,000.00 48,000.00 48,000.00 48,000.00 48,000.00
Internet and Telephone 1,499.00 17,988.00 17,988.00 17,988.00 17,988.00 17,988.00
LPG 1,500.00 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
Utilities Expense (Inclusive of VAT) 143,988.00 143,988.00 143,988.00 143,988.00 143,988.00

Input Vat 12% 17,278.56 17,278.56 17,278.56 17,278.56 17,278.56

Utilities Expense (Exclusive of VAT) 126,709.44 126,709.44 126,709.44 126,709.44 126,709.44

Allocated to Factory 70% 88,696.61 88,696.61 88,696.61 88,696.61 88,696.61

Allocated to Office 30% 38,012.83 38,012.83 38,012.83 38,012.83 38,012.83

 Schedule 14
Depreciation Expense - PPE
Fair Market Exclusive of Salvage Useful Life Annual
Value VAT Value (years) Depreciation
Factory
17,140.00 15,303.57 3,060.71
Factory Machinery and Equipment 0.00 5
11,400.00 10,178.57 2,035.71
Factory Furniture and Fixtures 0.00 5
90,000 80,357.14 16,071.43
Tricycle 0.00 5

105,839.29 21,167.86
Total Depreciation-Factory 0.00
Office
Office Equipment 20,400.00 18,214.29 0.00 5 3,642.86
Office Furniture and Fixtures 8,550.00 7,633.93 0.00 5 1,526.79

25,848.21 0.00 5,169.64

Total Depreciation-Office
131,687.50 26,337.50
Total Depreciation-PPE
 Schedule 15
Leasehold Improvement
Leasehold Improvement Contract 35,000.00
Total Materials 35,000.00
Total 35,000.00
Input VAT 4,200.00
Exclusive of VAT 30,800.00
Allocated to Factory 21,560.00
Allocated to Office 9,240.00
 Schedule 16
Taxes and Licenses
2021 2022 2023 2024 2025
BMBE Registration 500 500.00 500.00 500.00 500.00
Barangay Fee 100 100.00 100.00 100.00 100.00
SEC Registration 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00
BIR Registration 500 500.00 500.00 500.00 500.00
Zoning fee 200 200.00 200.00 200.00 200.00
Annual Inspection Fee 550.1 550.10 550.10 550.10 550.10
Medical Fee 150 150.00 150.00 150.00 150.00
Garbage Fee 500 500.00 500.00 500.00 500.00
Sanitary Fee 100 100.00 100.00 100.00 100.00
Worker’s Permit 500 500.00 500.00 500.00 500.00
Mayor’s Permit 100 100.00 100.00 100.00 100.00
Business Tax 500 500.00 500.00 500.00 500.00
Occupational Tax 900 900.00 900.00 900.00 900.00
Community Tax Clearance 500 500.00 500.00 500.00 500.00
Business Plate 120 120.00 120.00 120.00 120.00
Fire Inspection 228 228.00 228.00 228.00 228.00
Total Taxes and Licenses Fees 6,948.10 6,948.10 6,948.10 6,948.10 6,948.10
 Schedule 17
Rent Expense
Monthly 2021 2022 2023 2024 2025

Rent Expense-Site (Inclusive of VAT) 10,000 120,000.00 120,000.00 120,000.00 120,000.00 120,000.00

Input VAT - expanded 5% 5,714.29 5,714.29 5,714.29 5,714.29 5,714.29

Rent Expense (Exclusive of VAT) 114,285.71 114,285.71 114,285.71 114,285.71 114,285.71

Allocated to Factory 70% 80,000.00 80,000.00 80,000.00 80,000.00 80,000.00

Allocated to Office 30% 34,285.71 34,285.71 34,285.71 34,285.71 34,285.71

Schedule 18
Advertising Expense
2021 2022 2023 2024 2025
Online Advertising (Social Media) 500 500 500 500 500
Personal Selling 2500 2,500 2,500 2,500 2,500
Free taste 1,500 1,500 1,500 1,500 1,500
Quantity Selling 1,500 1,500 1,500 1,500 1,500
Food Bazaar 3,000 3,000 3,000 3,000 3,000
Product Bundling 4,000 4,000 4,000 4,000 4,000
Advertising Expense (Inclusive of VAT) 13,000.00 13,000.00 13,000.00 13,000.00 13,000.00
Input VAT 12% 1,392.86 1,392.86 1,392.86 1,392.86 1,392.86
Advertising Expense (Exclusive of VAT) 11,607.14 11,607.14 11,607.14 11,607.14 11,607.14
 Schedule 19
Administrative Expense
2021 2022 2023 2024 2025
Taxes and Licenses Fees 6,948.10 6,948.10 6,948.10 6,948.10 6,948.10
Office PPE Depreciation 5,169.64 5,169.64 5,169.64 5,169.64 5,169.64
Office Rent Expense 34,285.71 34,285.71 34,285.71 34,285.71 34,285.71
38,012.83 38,012.83 38,012.83 38,012.83 38,012.83
Utilities Expense
2,442.86 2,528.06 2,528.06 2,528.06 2,528.06
Office Supplies Expense
126,000.00 126,000.00 126,000.00 126,000.00 126,000.00
Admin Salary
13,000.00 13,000.00 13,000.00 13,000.00 13,000.00
Advertising Expense
7,779.20 8,168.16 8,168.16 8,168.16 8,168.16
Miscellaneous Expense
233,638.35 234,112.51 234,112.51 234,112.51 234,112.51
Total Administrative Expense
 Schedule 20
Factory Overhead per Unit
2021 2022 2023 2024 2025
Factory Miscellaneous Expense 7,779.20 8,168.16 8,168.16 8,168.16 8,168.16

Factory Utilities Expense 126,709.44 126,709.44 126,709.44 126,709.44 126,709.44

Factory Rent Expense 80,000.00 80,000.00 80,000.00 80,000.00 80,000.00

Factory PPE Depreciation 26,337.50 26,337.50 26,337.50 26,337.50 26,337.50

Indirect Materials 84,682.40 93,362.35 98,030.46 102,931.99 108,078.59

MANUFACTURING OVERHEAD 325,508.54 334,577.45 339,245.56 344,147.09 349,293.69

Add:
Administrative Expense 233,638.35 234,112.51 234,112.51 234,112.51 234,112.51

Total Overhead 559,146.89 568,689.96 573,358.08 578,259.60 583,406.20

Divided by: Annual Production 419,360.16 426,517.47 430,018.56 433,694.70 437,554.65

Factory Overhead per Unit 24,000 26,400 28,800 32,400 36,000

 Schedule 21
Selling Price for Retailers
2021 2022 2023 2024 2025
Direct Material Used/Unit 19.31 23.70 23.70 23.70 23.70

Labor Cost/Unit 7.46 6.78 6.22 5.53 4.97

Factory Overhead/ Unit 17.47 16.16 14.93 13.39 12.15

Total Cost/Unit 44.24 46.64 44.85 42.61 40.83

Markup to Retailers 21% 9.33 15% 6.93 19% 8.72 26% 10.96 31% 12.74

Selling Price for Retailers 53.57 53.57 53.57 53.57 53.57

(Exclusive of VAT)
Output VAT 12% 6.43 12% 6.43 12% 6.43 12% 6.43 12% 6.43

Selling Price for Retailers 60.00 60.00 60.00 60.00 60.00

(Inclusive of VAT)
Suggested Selling Price for 60.00 60.00 60.00 60.00 60.00
Retailers
Suggested Selling Price for 19.31 23.70 23.70 23.70 23.70
Consumers
 Schedule 22
Projected Sales in Units
2021 2022 2023 2024 2025
Finished Goods, Beginning Inventory 0 480 480 480 480

Add: Units Produced 24,000 26,400 28,800 32,400 36,000

Units Available for Sale 24,000 26,880 29,280 32,880 36,480

Ending Inventory 2% 480 538 586 658 730

Projected Sales in Units 23,520.00 26,342.40 28,694.40 32,222.40 35,750.40

 Schedule 23
Fixed Cost
2021 2022 2023 2024 2025
Salaries Expense 179,040.00 179,040.00 179,040.00 179,040.00 179,040.00

Depreciation Expense - PPE 26,337.50 26,337.50 26,337.50 26,337.50 26,337.50

Rent Expense 114,285.71 114,285.71 114,285.71 114,285.71 114,285.71

Office Supplies Expense 2,442.86 2,528.06 2,528.06 2,528.06 2,528.06

Miscellaneous Expense 7,779.20 8,168.16 8,168.16 8,168.16 8,168.16

Utilities Expense 126,709.44 126,709.44 126,709.44 126,709.44 126,709.44

Taxes and Licenses 6,948.10 6,948.10 6,948.10 6,948.10 6,948.10

Selling and Delivery Expense 63,607.14 63,607.14 63,607.14 63,607.14 63,607.14

Total Fixed Cost 527,149.95 527,624.12 527,624.12 527,624.12 527,624.12

Divided by Annual Production 24,000 26,400 28,800 32,400 36,000

Total Fixed Cost per Unit 21.96 19.99 18.32 16.28 14.66
 Schedule 24
Variable Cost
2021 2022 2023 2024 2025
Direct Materials 662,070.54 695,174.06 729,932.77 766,429.40 804,750.87

Indirect Materials 84,682.40 93,362.35 98,030.46 102,931.99 108,078.59

Total Variable Cost 746,752.94 788,536.41 827,963.23 869,361.39 912,829.46

Divided by Annual Production 24,000 26,400 28,800 32,400 36,000

Total Variable Cost per Unit 31.11 29.87 28.75 26.83 25.36

Schedule 25
Contribution Margin per Unit
2021 2022 2023 2024 2025
Selling Price per Unit 53.57 53.57 53.57 53.57 53.57

Variable Costs per Unit 31.11 29.87 28.75 26.83 25.36

Contribution Margin per Unit 22.46 23.70 24.82 26.74 28.22

Contribution Margin Percentage 41.92% 44.24% 46.34% 49.91% 52.67%

 Schedule 26
Input VAT
2021 2022 2023 2024 2025
Direct Materials 79,448.46 83,420.89 87,591.93 91,971.53 96,570.10

Indirect Materials 11,547.60 12,731.23 13,367.79 14,036.18 14,737.99

Rent Expense 5,714.29 5,714.29 5,714.29 5,714.29 5,714.29

Utilities Expense 17,278.56 17,278.56 17,278.56 17,278.56 17,278.56

Miscellaneous Expense 1,060.80 1,113.84 1,113.84 1,113.84 1,113.84

Factory Machinery and Equipment 1,836.43

Factory Tools 1,221.43 1,221.43 1,221.43 1,221.43 1,221.43

Factory Supplies 272.14 272.14 272.14 272.14 272.14

Office Equipment 2,185.71

Office Furniture and Fixtures 916.07

Office Supplies 328.32 344.74 344.74 344.74 344.74

Leasehold Improvements 4,200.00

Advertising Expense 1392.86 1392.86 1392.86 1392.86 1392.86

Total Input VAT 127,402.67 123,489.97 128,297.57 133,345.56 138,645.94

 Schedule 27
Output VAT
2021 2022 2023 2024 2025
Net Sales - Inclusive of VAT 1,411,200.00 1,580,544.00 1,721,664.00 1,933,344.00 2,145,024.00

Net Sales - Exclusive of VAT 1,260,000.00 1,411,200.00 1,537,200.00 1,726,200.00 1,915,200.00

Output VAT 151,200.00 169,344.00 184,464.00 207,144.00 229,824.00

Schedule 28
Annual Cash Return
2021 2022 2023 2024 2025
Net Income 234,894.62 233,210.17 277,631.19 389,164.19 504,996.46

Add: Depreciation Expense 26,337.50 26,337.50 26,337.50 26,337.50 26,337.50

Annual Cash Return 261,232.12 259,547.67 303,968.69 415,501.69 531,333.96

 Schedule 29
Contribution Margin
Year Selling price/unit Variable Cost/unit CM
32.86 15.39 17.47
2021
32.86 15.39 17.47
2022
32.86 15.39 17.47
2023
32.86 15.39 17.47
2024
32.86 15.39 17.47
2025

Schedule 30
Delivery and Selling Expense
2021 2022 2023 2024 2025

Delivery 52,000.00 52,000.00 52,000.00 52,000.00 52,000.00

Advertising Expense 11,607.14 11,607.14 11,607.14 11,607.14 11,607.14

Total Delivery Selling Expense 63,607.14 63,607.14 63,607.14 63,607.14 63,607.14

 Schedule 31
Inventories
2021 2022 2023 2024 2025
480 538 586 658 730
Ending Inventory
53.57 53.57 53.57 53.57 53.57
Total Cost
25714.29 28800.00 31371.43 35228.57 39085.71
Amount, Ending Inventory