JYB MANUFACTURING

Project Cost

Fixed Asset
Office Equipment 57,433.00
Furniture and Fixtures 29,445.00
Manufacturing Machines &Equipment 124,011.95
Delivery Equipment 155,000.00
Land 500,000.00
Building 1,000,000.00
Auxiliary Tools and Equipment 6,708.00
Total Investment in Fixed Assets 1,872,597.95

Current Assets

Prepaid Supplies
Office Supplies 4,314.74
Cleaning Materials 2,746.50
Work Attire 2,636.24
First Aid Kit System 296.50 9,993.98
Total Investment in Current Assets 9,993.98

Operating Expenses
Feasibility Study 9,882.00
Lincenses and Permits 7,850.00
Department of Trade and Industry
Processing Fee 300.00
Registration 500.00
Documentary Stamp 15.00 815.00
Bureau of Internal Revenue
Registration 500.00
Certification Fee 100.00
Documentary Stamp 15.00
Books of Account 2,000.00 2,615.00
Forms and Receipts 1,670.00
Telephone/ Internet 1,299.00
Hiring Cost 4,000.00 5,299.00
Miscellaneous Expenses
Medical Examination 6,000.00
Company Outing 10,000.00 16,000.00
Total Pre-Operating Expenses 44,131.00

Working Capital (72 days)

Materials
Direct 216,762.66
 Indirect 55,899.05 272,661.71
Labor
Administrative 104,218.06
Direct 159,468.00
Indirect 168,307.67
Others 0.00 431,993.73
Utilities
Electricity 96,096.66
Water 21,422.81
Diesel 5,909.76
Telephone/ Internet 4,350.00 127,779.23
Advertising Expenses 4,400.00

Total Working Capital 836,834.67

Total Project Cost 2,763,557.60

2,900,000.00
136,442.40

136,442.40
 726
66
48
630
1200
1050
315
500
200
336
560
2463
405
473
120
550
240
9882
2400000
 JYB MANUFACTURING
INCOME STATEMENT
For the Year Ended December 31, 2020

Notes
Sales 1 4,301,436.43
Less: Cost of Goods Sold -1,996,890.15
Gross Profit 2,304,546.28
Less: Operating Expenses
Administrative 7 -577,416.69
Selling Expense 16 -4,400.00
Miscellaneous Expense 17 -10,000.00
Less: Income Tax Expense -1,970.76
Net Income/Loss 1,710,758.83
 JYB MANUFACTURING
PROJECTED INCOME STATEMENT
For the Year Ended December 31, 2020 to 2024
Note 2020
Sales 1 4,301,436.43
Less: Cost of Good Sold
Direct Materials 2 576,369.42
Indirect Materials 3 223,088.00
Direct Labor 4 658,512.00
Indirect Labor 5 520,283.29
Overhead Cost 6 18,637.44
Total Manufacturing Cost 1,996,890.15
Finished Goods Inv. Beg
Total Goods Available for Sale 1,996,890.15
Total Finished Goods End % of
Goods Sold on TGAS 1.00
Cost of Goods Sold 1,996,890.15
Gross Profit 2,304,546.28

Less: Operating Expenses

Administrative Expense 7 577,416.69
Misellaneous Expense 17 10,000.00
Selling Expense 16 4,400.00
Total Operating Expense 591,816.69

Net Income Before Tax 1,710,758.83

Less: 800,000
Excess over 800,000 to 2,000,000 910,758.83
Tax Rate 130,000 + 0.3
Less: Income Tax Payable 403,227.65
Net Income After Tax 1,307,531.18
 ANUFACTURING
INCOME STATEMENT
d December 31, 2020 to 2024
2021 2022 2023 2024
4,580,761.53 4,903,496.79 5,234,030.05 5,572,717.64

614,869.32 636,549.63 594,123.71 675,709.11

231,182.99 239,343.09 246,788.87 254,808.75
658,512.00 658,512.00 658,512.00 658,512.00
520,283.29 520,283.29 520,283.29 520,283.29
18,860.45 19,099.87 19,318.24 19,553.54
2,043,708.06 2,073,787.88 2,039,026.11 2,128,866.69

2,043,708.06 2,073,787.88 2,039,026.11 2,128,866.69

1.00 1.00 1.00 1.00

2,043,708.06 2,073,787.88 2,039,026.11 2,128,866.69
2,537,053.47 2,829,708.91 3,195,003.93 3,443,850.95

493,684.94 494,709.06 495,745.17 496,819.00

10,000.00 10,000.00 10,000.00 10,000.00
4,549.60 4,555.32 4,536.84 4,543.00
508,234.54 509,264.38 510,282.01 511,362.00

1,768,924.63 1,831,367.67 1,888,323.20 1,949,693.71

800,000 800,000 800,000 800,000
968,924.63 1,031,367.67 1,088,323.20 1,149,693.71
130,000 + 0.3 130,000 + 0.3 130,000 + 0.3 130,000 + 0.3
420,677.39 439,410.30 456,496.96 474,908.11
1,348,247.24 1,391,957.37 1,431,826.24 1,474,785.59
 JYB MANUFACTURING
PROJECTED BALANCE SHEET
For the Year Ended December 31, 2020

Assets Notes 2020 2021 2022

Current Assets
Cash 2,284,175.77 1,565,163.96 1,707,683.44
Supplies 9,993.98 10,333.78 10,698.56
Inventory 19,413.34 20,073.39 20,781.98
Accounts Receivable - net 0.00 916,152.31 980,699.36
Total Current Assets 2,313,583.09 2,511,723.44 2,719,863.34

Non Current Assets

Office Equipment, Net 8 48,243.72 39,054.44 29,865.16
Furniture and Fixtures, Net 12 26,738.95 24,032.90 21,326.85
Manufacturing Machines & Equipments, Net 9 94,176.02 84,861.91 75,547.80
Delivery Equipment, Net 10 141,050.00 127,100.00 113,150.00
Auxilliary Tools and Equipment, Net 13 5,932.38 5,156.76 4,381.14
Building, Net 14 967,777.78 935,555.56 903,333.34
Land 500,000.00 500,000.00 500,000.00
Total Non-Current Assets 1,783,918.85 1,715,761.57 1,647,604.29
TOTAL ASSETS 4,097,501.94 4,227,485.01 4,367,467.63

LIABILITIES AND EQUITY

Current Liabilities
Income Tax Payable 1,970.76 2,037.77 2,109.70
Owner's Equity
Owner's Capital 15 4,095,531.18 4,225,447.24 4,365,357.93
Total Owner's Equity 4,095,531.18 4,225,447.24 4,365,357.93
TOTAL LIABILITIES AND OWNER'S EQUITY 4,097,501.94 4,227,485.01 4,367,467.63

0.00

899,300.73
899,300.73
 2023 2024
3.40 3.53 3.11 3.25 inflation rate

1,773,603.95 1,908,419.07
11,031.28 11,389.80
83,733.01 86,454.34
1,046,806.01 1,114,543.53
2,915,174.26 3,120,806.73

4,227,485.01 4,367,467.63 4,494,621.27

20,675.88 11,486.60 2,662,321.05 2,659,784.19 2,721,017.32
18,620.80 15,914.75
66,233.69 56,919.58
99,200.00 85,250.00
3,605.52 2,829.90
871,111.12 838,888.90
500,000.00 500,000.00
1,579,447.01 1,511,289.73
4,494,621.27 4,632,096.46

2,175.31 2,246.01 4,097,501.94

2,686,603.24
4,492,445.96 4,605,850.45 1,410,898.70 1,410,898.70
4,492,445.96 4,605,850.45 873,277.07
4,494,621.27 4,608,096.46
4,632,096.46
2,723,677.39
Cash Flow from Operating Activities
Net Income of the Year 1,307,531.18
Add: Total Depreciation 70,145.75
Increases in Cash 47,568.06
Less: Owner's Personal Drawing -12,000.00
Add: Cash Beginning 870,930.78
Cash at the End of the Year 2,284,175.77

2,284,175.77
1,365,676.93
918,498.84
870,930.78
 JYB MANUFACTURING
PROJECTED STATEMENT OF CASH FLOW
For the Year Ended December 31, 2020
3.40 3.53
CASH FLOW FROM OPERATING ACTIVITIES 2020 2021 2022
Net Income 1,307,531.18 1,348,247.24 1,391,957.37
Adjustments for:
Depreciation 70,145.75 70,145.75 70,145.75
Operating income before working captial changes 1,377,676.93 1,418,392.99 1,462,103.12
Decrease (increase) in:
Increase in Receivables -₱916,152.31 -₱980,699.36
Inventories -₱19,413.34 -20,073.39 -20,781.98
Prepaid Supplies -9,993.98 -10,346.77
Pre-Operating Cost 44,131.00
Cash generated from operations
Increase (decrease) in:
Income Tax Payable 1,970.76 2,037.77 2,109.70
Net cash provided by operating activities 1,404,365.35 474,211.07 452,384.70
CASH FLOW FROM INVESTING ACTIVITIES
Acquisition of property and equipment
CASH FLOW FROM FINANCING ACTIVITIES
Owner's Personal Drawing -12,000.00 -18,000.00 -24,000.00
NET INCREASE (DECREASE) IN CASH
CASH AT THE BEGINNING OF THE YEAR 891,810.42 922,131.97 954,683.23
CASH AT THE END OF THE YEAR 2,284,175.77 1,378,343.05 1,383,067.94
 3.11 3.25 inflation rate
2023 2024
1,431,826.24 1,474,785.59

70,145.75 70,145.75
1,501,971.99 1,544,931.34

-₱1,046,806.01 -₱1,114,543.53
-21,428.30 -22,124.72
-10,668.55 -11,015.28

2,175.31 2,246.01
425,244.44 399,493.82

-30,000.00 -60,000.00

984,373.88 1,016,366.03
1,379,618.32 1,355,859.85
 Notes in Financial Study
Note 1 Sales ₱2,020.00 ₱2,021.00
3.40
Final Production ₱83,571.72 ₱86,413.16
% of Sold Units ₱1.00 ₱1.00
Selling Price per Unit ₱51.47 ₱53.01
Net Sales ₱4,301,436.43 ₱4,580,761.53
Cash Sales ₱3,664,609.22
Credit Sales ₱916,152.31

Note 2 Direct Materials

Raw Materials Invt'y Beg - ₱18,903.34
Purchases ₱595,272.76 ₱615,512.03
Total Raw Materials Available for Use ₱595,272.76 ₱634,415.37
Raw Materials Invt'y End ₱18,903.34 ₱19,546.05
Materials Used ₱576,369.42 ₱614,869.32

Note 3 Indirect Materials

Raw Materials Invt'y Beg - ₱510.00
Purchases ₱223,598.00 ₱231,200.33
Total Raw Materials Available for Use ₱223,598.00 ₱231,710.33
Raw Materials Invt'y End ₱510.00 ₱527.34
Materials Used ₱223,088.00 ₱231,182.99

Note 4 Direct Labor

Salaries Expense ₱518,400.00 ₱518,400.00
SSS ₱61,920.00 ₱61,920.00
Pag-Ibig ₱20,736.00 ₱20,736.00
Philhealth ₱14,256.00 ₱14,256.00
13th Month Pay ₱43,200.00 ₱43,200.00
Total ₱658,512.00 ₱658,512.00

Note 5 Indirect Labor

Salaries Expense ₱413,799.96 ₱413,799.96
SSS ₱46,080.00 ₱46,080.00
Pag-Ibig ₱15,360.00 ₱15,360.00
Philhealth ₱10,560.00 ₱10,560.00
13th Month Pay ₱34,483.33 ₱34,483.33
Total ₱520,283.29 ₱520,283.29

Note 6 Overhead Cost

Forms and Receipts ₱880.00 ₱909.92
Depn - Auxilliary Tools and Eq. ₱775.62 ₱775.62
Depn - Manufacturing Machine and Eq. ₱9,314.11 ₱9,314.11
Depn - Furniture and Fixtures ₱1,988.47 ₱1,988.47
 Cleaning Materials ₱2,746.50 ₱2,839.88
First Aid Kit ₱296.50 ₱306.58
Work Attire ₱2,636.24 ₱2,725.87
Total Overhead ₱18,637.44 ₱18,860.45

Note 7 Administrative Expense

Salaries Expense ₱338,880.00 ₱338,880.00
SSS ₱40,320.00 ₱40,320.00
Pag-Ibig ₱13,555.20 ₱13,555.20
Philhealth ₱9,319.20 ₱9,319.20
13th Month Pay ₱28,240.00 ₱29,081.55
Supplies Expense ₱4,314.74 ₱4,461.44
Depn Expn - Office Equipment ₱9,189.28 ₱9,189.28
Depn Expn - Delivery Equipment ₱13,950.00 ₱13,950.00
Depn Expn - Furniture and Fixtures ₱2,706.05 ₱2,706.05
Depn Expn - Building ₱32,222.22 ₱32,222.22
Pre-Operating Expense ₱84,720.00 ₱0.00
Total ₱577,416.69 ₱493,684.94

Note 8 Office Equipment, Net

Office Equipment ₱57,433.00 ₱48,243.72
Less: Depreciation ₱9,189.28 ₱9,189.28
Total ₱48,243.72 ₱39,054.44

Note 9 Machines and Equipment, Net

Machines and Equipment ₱103,490.13 ₱94,176.02
Less: Depreciation ₱9,314.11 ₱9,314.11
Total ₱94,176.02 ₱84,861.91

Note 10 Delivery Equipment, Net

Delivery Equipment ₱155,000.00 ₱141,050.00
Less: Depreciation ₱13,950.00 ₱13,950.00
Total ₱141,050.00 ₱127,100.00

Note 11 Production Furniture and Fixtures, Net

Furniture and Fixtures ₱21,373.00 ₱19,384.53
Less: Depreciation ₱1,988.47 ₱1,988.47
Total ₱19,384.53 ₱17,396.06

Note 12 Office Furniture and Fixture, Net

Furniture and Fixture ₱29,445.00 ₱26,738.95
Less: Depreciation ₱2,706.05 ₱2,706.05
Total ₱26,738.95 ₱24,032.90

Note 13 Auxilliary Tools and Equipments, Net

 Auxilliary Tools and Equipments ₱6,708.00 ₱5,932.38
Less: Depreciation ₱775.62 ₱775.62
Total ₱5,932.38 ₱5,156.76

Note 14 Buidling, Net

Building ₱1,000,000.00 ₱967,777.78
Less: Depreciation ₱32,222.22 ₱32,222.22
Total ₱967,777.78 ₱935,555.56

Note 15 Owner's Equity

Beg Capital ₱2,800,000.00 ₱2,895,200.00
Add: Net Income After Tax ₱1,307,531.18 ₱1,348,247.24
Less: Withdrawals -₱12,000.00 -₱18,000.00
Total ₱4,095,531.18 ₱4,225,447.24

Note 16 Selling Expense

Advertising Expense ₱4,400.00 ₱4,549.60
Total ₱4,400.00 ₱4,549.60

Note 17 Miscellaneous Expense

Company Outing ₱10,000.00 ₱10,000.00
Total ₱10,000.00 ₱10,000.00
 ₱2,022.00 ₱2,023.00 ₱2,024.00
3.53 3.11 3.25 inflation rate
₱89,463.54 ₱92,245.86 ₱95,243.85
₱1.00 ₱1.00 ₱1.00
₱54.81 ₱56.74 ₱58.51
₱4,903,496.79 ₱5,234,030.05 ₱5,572,717.64
₱3,922,797.43 ₱4,187,224.04 ₱4,458,174.11 ₱19,413.34
₱980,699.36 ₱1,046,806.01 ₱1,114,543.53

₱19,546.05 ₱20,236.03 ₱83,170.08

₱637,239.61 ₱657,057.76 ₱678,412.14
₱656,785.66 ₱677,293.79 ₱761,582.22
₱20,236.03 ₱83,170.08 ₱85,873.11
₱636,549.63 ₱594,123.71 ₱675,709.11

₱527.34 ₱545.96 ₱562.93

₱239,361.70 ₱246,805.85 ₱254,827.04
₱239,889.04 ₱247,351.81 ₱255,389.98
₱545.96 ₱562.93 ₱581.23
₱239,343.09 ₱246,788.87 ₱254,808.75

₱518,400.00 ₱518,400.00 ₱518,400.00

₱61,920.00 ₱61,920.00 ₱61,920.00
₱20,736.00 ₱20,736.00 ₱20,736.00
₱14,256.00 ₱14,256.00 ₱14,256.00
₱43,200.00 ₱43,200.00 ₱43,200.00
₱658,512.00 ₱658,512.00 ₱658,512.00

₱413,799.96 ₱413,799.96 ₱413,799.96

₱46,080.00 ₱46,080.00 ₱46,080.00
₱15,360.00 ₱15,360.00 ₱15,360.00
₱10,560.00 ₱10,560.00 ₱10,560.00
₱34,483.33 ₱34,483.33 ₱34,483.33
₱520,283.29 ₱520,283.29 ₱520,283.29

₱942.04 ₱971.34 ₱1,002.91

₱775.62 ₱775.62 ₱775.62
₱9,314.11 ₱9,314.11 ₱9,314.11
₱1,988.47 ₱1,988.47 ₱1,988.47
 ₱2,940.13 ₱3,031.57 ₱3,130.09
₱317.40 ₱327.27 ₱337.91
₱2,822.10 ₱2,909.86 ₱3,004.43
₱19,099.87 ₱19,318.24 ₱19,553.54

₱338,880.00 ₱338,880.00 ₱338,880.00

₱40,320.00 ₱40,320.00 ₱40,320.00
₱13,555.20 ₱13,555.20 ₱13,555.20
₱9,319.20 ₱9,319.20 ₱9,319.20
₱29,948.18 ₱30,840.64 ₱31,759.69
₱4,618.93 ₱4,762.58 ₱4,917.36
₱9,189.28 ₱9,189.28 ₱9,189.28
₱13,950.00 ₱13,950.00 ₱13,950.00
₱2,706.05 ₱2,706.05 ₱2,706.05
₱32,222.22 ₱32,222.22 ₱32,222.22
₱0.00 ₱0.00 ₱0.00
₱494,709.06 ₱495,745.17 ₱496,819.00

₱39,054.44 ₱29,865.16 ₱20,675.88

₱9,189.28 ₱9,189.28 ₱9,189.28
₱29,865.16 ₱20,675.88 ₱11,486.60

₱84,861.91 ₱75,547.80 ₱66,233.69

₱9,314.11 ₱9,314.11 ₱9,314.11
₱75,547.80 ₱66,233.69 ₱56,919.58

₱127,100.00 ₱113,150.00 ₱99,200.00

₱13,950.00 ₱13,950.00 ₱13,950.00
₱113,150.00 ₱99,200.00 ₱85,250.00

₱17,396.06 ₱15,407.59 ₱13,419.12

₱1,988.47 ₱1,988.47 ₱1,988.47
₱15,407.59 ₱13,419.12 ₱11,430.65

₱24,032.90 ₱21,326.85 ₱18,620.80

₱2,706.05 ₱2,706.05 ₱2,706.05
₱21,326.85 ₱18,620.80 ₱15,914.75
 ₱5,156.76 ₱4,381.14 ₱3,605.52
₱775.62 ₱775.62 ₱775.62
₱4,381.14 ₱3,605.52 ₱2,829.90

₱935,555.56 ₱903,333.34 ₱871,111.12

₱32,222.22 ₱32,222.22 ₱32,222.22
₱903,333.34 ₱871,111.12 ₱838,888.90

₱2,997,400.56 ₱3,090,619.72 ₱3,191,064.86

₱1,391,957.37 ₱1,431,826.24 ₱1,474,785.59
-₱24,000.00 -₱30,000.00 -₱60,000.00
₱4,365,357.93 ₱4,492,445.96 ₱4,605,850.45

₱4,555.32 ₱4,536.84 ₱4,543.00

₱4,555.32 ₱4,536.84 ₱4,543.00

₱10,000.00 ₱10,000.00 ₱10,000.00

₱10,000.00 ₱10,000.00 ₱10,000.00
INCOME TAX TABLE FOR SOLE PROP