Table 1.

Sales Projection

CHAOFAN HOUSE
SALES PROJECTION – TYPICAL WEEK
Number of Seats: 90 Table Turns Covers Daily Sales (₱) Daily Total
Food Beverages Sales (₱)
Monday Lunch 2 180 17,100 4,320 21,420
Dinner 1 90 8,550 2,160 10,710
Tuesday Lunch 2 180 17,100 4,320 21,420
Dinner 1 90 8,550 2,160 10,710
Wednesday Lunch 2 180 17,100 4,320 21,420
Dinner 1 90 8,550 2,160 10,710
Thursday Lunch 2 180 17,100 4,320 21,420
Dinner 1 90 8,550 2,160 10,710
Friday Lunch 2 180 17,100 4,320 21,420
Dinner 1 90 8,550 2,160 10,710
Saturday Lunch 2 180 17,100 4,320 21,420
Dinner 1 90 8,550 2,160 10,710
Sunday Lunch 2 180 17,100 4,320 21,420
Dinner 1 90 8,550 2,160 10,710
WEEKLY TOTAL SALES ₱ 224, 910
ANNUAL TOTAL SALES (₱224,910 x 52 weeks in a year) ₱ 11,695,320

Table 2. Projected Profit and Loss Statement

CHAOFAN HOUSE
PROJECTED PROFIT AND LOSS STATEMENT
2023
SALES:
Food ₱ 9,336,600
Beverage 2,358,720
Total Sales ₱ 11,695,320
COST OF SALES:
Food (35%) ₱ 3,267,810
Beverage (15%) 353,808
Total Cost of Sales ₱ 3,621,618
GROSS PROFIT:
Food ₱ 6,068,790
Beverage 2,994,912
Total Gross Profit ₱ 8,073,702
EXPENSES:
Salaries & Wages ₱ 3,367,000
Employee Benefits 1,210,450
Entertainment 10,000
Advertising 125,000
 Utilities 45,000
Repairs & Maintenance 30,000
Administrative 5,000
Total Expenses ₱ 4,792,450
Net Profit Before Taxes ₱ 3,281,252.00
Income Taxes (30%) ₱ 984,375.60
Net Income ₱ 2,296876.40

Table 3. Calculating the Cost of Sales

Menu Selling Portion Contribution Item Total Item Total Item Total Item
Item Price Cost Margin Quantity Sales Cost Contribution
1 ₱ 120.00 ₱ 42.00 ₱ 78.00 25 ₱ 3,000.00 ₱ 1,050.00 ₱ 1,950.00
2 ₱ 95.00 ₱ 33.25 ₱ 61.75 19 ₱ 1,805.00 ₱ 631.75 ₱ 1,173.25
3 ₱ 110.00 ₱ 38.50 ₱ 71.50 22 ₱ 2,420.00 ₱ 847.00 ₱ 1,573.00
4 ₱ 105.00 ₱ 36.75 ₱ 68.25 52 ₱ 5,460.00 ₱ 1,911.00 ₱ 3,549.00
5 ₱ 109.00 ₱ 38.15 ₱ 70.85 15 ₱ 1,635.00 ₱ 572.25 ₱ 1,062.75
6 ₱ 119.00 ₱ 41.65 ₱ 77.35 38 ₱ 4,522.00 ₱ 1,582,70 ₱ 2,939.30
Total ₱ 18,842.00 ₱ 6,594.70 ₱12,247.30

Food Cost Percentage: 35%

Table 4. Calculating the Cost of Personnel and Related Expenses

Position Number of Persons Hours per Week Weekly Cost

Manager 1 45 ₱ 800
Assistant manager 1 45 650
Head Chef 1 40 650
Line Cook 2 56 980
Cook’s Helper 2 40 500
Dishwasher 3 70 850
Server 4 80 980
Total Weekly Cost ₱ 5,410
Weekly Labor (5,410 x 52 weeks) ₱ 281, 320.00
Overtime at 8% (281,320 x .08) 22,505.60
Benefits at 25% (281,320 x .25) 70,330.00
Total Labor and Benefits ₱ 374,155.60
Table 5. Balance Sheet

CHAOFAN HOUSE
PROJECTED BALANCE SHEET
January 1, 2023
ASSETS
Current Assets
Cash ₱ 58,000
Inventory 72,000
Total Current Assets ₱ 130,000
Fixed Assets
Building ₱ 215,000
Furniture & Fixtures 65,000
Equipment 16,000
Total Fixed Assets ₱ 296,000
Total Assets ₱ 426,000

LIABILITIES
Current Liabilities
Accounts Payable ₱ 78,000
Notes Payable 57,350
Total Current Liabilities ₱ 135,350
Non-current Liabilities
Mortgage - Building ₱ 105,500
Loans Payable 74,500
Total Non-current Liabilities ₱ 180,000
OWNER’S EQUITY
Chao, Capital ₱ 110,650
Total Liabilities and Equity ₱ 426,000