Revised Presentation

Lal-lo National High School
Centro, Lal-lo, Cagayan, Philippines

ACCOUNTANCY, BUSINESS AND MANAGEMENT
Food Hauz
owned by:
DIMPLE MAE M. CARILLO
EUNICE LEONILLO
REMY FRUGAL
CHIQUETITA TORRES
KEISI SAQUING
RHEA SALES
CARMIE MAE SOTELO
VINCE ARGONZA
MICHAEL BENEDICT SADIWA
JULIUS BUNUAN
i
ACKNOWLEDGMENT
The Grade XII Accountancy Business and Management students and also the young
entrepreneurs who own Food Hauz, would like to express their deepest gratitude, thanksgiving,
and adoration to God for blessing them such supportive parents and teachers who have helped
them prepare everything that they needed from the very first day up to the last day of business
simulation.
The owners would like to send their warmest thanksgiving to the parents of the business
owners, who have been their helping hands all throughout the process and preparation. The
business owners send their heartfelt love and appreciation to everyone aforementioned. Thank
you and God bless!
ii
STATEMENT OF PURPOSE
Food Hauz which is inspired by Marcus Food house is a new business owned by ten
grade XII Accountancy Business and Management students that sells variety of food products.
The entrepreneurs have thought of putting up a business named Food Hauz because of three
things; first is to provide and offer food products that could satisfy the hunger of every costumer,
second is to earn and save money for school expenses, and lastly, to learn strategies on how to
manage a business. The business owners only had two purposes as they were planning on putting
up a business but later on realized another reason from the first day of operation all the way to
the last day. It is to learn operating and managing a business more effectively. It is undeniable
that within a short period of time, the business owners have found out the strongest and weakest
spot a business could possibly have.
In addition, the business owners have learned a lot of business strategies through hard
times.
1
BUSINESS DESCRIPTION
Food Hauz is a new business owned by ten grade XII Accountancy Business and
Management students that seeks to provide affordable products that can satisfy hunger. The
business owners thought of naming their business after the prominent Marcus Food house which
offers variety of heavy meals. Marcus Food house is popular to Lalloqueños due to their products
that undeniably satisfy the cravings of anyone. Hence, the Accountancy Business and
Management students agreed to come up with a name that has a twist in it, Food Hauz, with an
‘auz’ rather than ‘ouse.’
The business owners have established their business at Lal-lo National High School, at
the senior high school canteen. The owners prepare and sell products that could best fit the
interest of everyone. It operates around 2-3 times a week.
2
PRODUCTS AND SERVICES OFFERED
Food Hauz offered three different products, namely; luscious cheese sticks, cheesy puto,
and kutsinta with cheese on top during their soft opening. Yes, extraordinary tasting cheese
sticks, cheesy puto, and kutsinta. Made up of mouthwatering cheese and sweet crispy wrappers,
these can be one of the best appetizers in town. Next product is the cheesy puto, fluffy puto with
cheese on top, that’s what they call it, this can surely make you eat with gusto with no doubt. A
perfect partner of coffee, milk, soup, or anything that you want to eat. Lastly is the scrumptious
kutsinta with cheese as its topping. Amidst its glutinous property, kutsinta has been one of the
products that Filipinos like eating especially during special occasions. This became one of the
factors that pushed the business owners to include it in the menu.
The business later on included “laddit”, a filipino dish made out of noodles that are
yellow in color, bihon, another dish made out of thinner noodles, pancakes, spaghetti, and soup
in the menu. These are the products that the business owners started offering after finding out
that these are the food products that most of the customers like buying and suggesting. The
business owners have thought of offering all the suggestions instead since most of the customers
have given positive feedbacks out of it.
3
MANAGEMENT
Everyone works during the operation. Two people are responsible in selling the products
during break times, the other owners that are present are responsible in roaming around the
school campus to sell the unsold goods afterwards. It usually needs around 4 people to do this
work. One of the owners is also responsible in preparing and recording all the sales, expenses,
and income of the business every after business operations.
4
OPERATION
Since the business owners are still students, they only operate Food Hauz two to four
times a week, monday to wednesday, around 7:30- 9:45 in the morning, and then the whole
afternoon. While on thursday or friday, it can only be operated around 7:30-9:45 am during the
vacant periods of the young entrepreneurs. Business owners no longer operate in the afternoon
due to classes.
FOOD HAUZ
STATEMENT OF COMPREHENSIVE INCOME
FOR THE MONTHS OF NOVEMBER-JANUARY
1st week
Sales Php 940
_____________________________________________________________________________________
Net Sales 940
Less: Cost of Sales
Merchandise inventory, beginning -
Add/Deduct: Purchases Php600
Freight-In -
Purchase Discounts -
Purchase Returns and Allowances - Php600
_____________________________________________________________________________________
Total Goods Available for Sale 600
Less: Merchandise Inventory, Ending - (600)
_____________________________________________________________________________________
Gross Profit Php 340
Less: Other Operating Expenses -
______________________________________________________________________________
Net Income Php 340

2nd Week
Sales Php 1930
______________________________________________________________________________
Net Sales 1930
Less: Cost of Sales
Freight-In -
Purchase Returns and Allowances - Php1270
______________________________________________________________________________
______________________________________________________________________________
_____________________________________________________________________________
Net Income Php 660

3rd Week
Sales Php 1481
______________________________________________________________________________
Net Sales 1481
Less: Cost of Sales
Add/Deduct: Purchases 865
Freight-In -
Purchase Returns and Allowances - 865
______________________________________________________________________________
______________________________________________________________________________
____________________________________________________________________
Net Income Php 616

4th Week
Sales Php 3656
_____________________________________________________________________________
Net Sales 3656
Less: Cost of Sales
Freight-In -
Purchase Returns and Allowances - Php 2262
_____________________________________________________________________________
_____________________________________________________________________________
____________________________________________________________________
Net Income Php 1394

5th Week
Sales Php 3168
_________________________________________________________________________
Net Sales 3168
Less: Cost of Sales
Freight-In -
Purchase Returns and Allowances - 1748
__________________________________________________________________________
__________________________________________________________________________
_________________________________________________________________________
Net Income Php 1420

10
• INCOME SUBJECTED TO RENT EXPENSE
1st-5th Week
Sales Php 4430
________________________________________________________________________
Net Sales 4430
Less: Cost of Sales
Add/Deduct: Purchases -
Freight-In -
Purchase Returns and Allowances - -
________________________________________________________________________
Total Goods Available for Sale -
Less: Merchandise Inventory, Ending -
-_________________________________________________________________________
Less: Other Operating Expenses
Rent Expense (Php443) (443)
____________________________________________________________________________
Net Income Php 3987

11
6th Week
Sales Php 2058
______________________________________________________________________
Net Sales 2058
Less: Cost of Sales
Add/Deduct: Purchases Php 1130
Freight-In -
Purchase Returns and Allowances - Php 1130
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
Net Income Php 928

12
FOOD HAUZ
STATEMENT OF CHANGES IN OWNER’S EQUITY
Food Hauz, Capital, Beginning Php 600
Add: Net Income 4915
___________________________________________________________________________
Food Hauz, Capital, Ending Php 5515
FOOD HAUZ
STATEMENT OF FINANCIAL POSITION
Assets
Cash Php 5515

________________________________________________________________________
Total Assets Php 5515
Liabilities and Owner’s Equity
Accounts Payable -
Notes Payable -
Add: Capital, Ending Php 5515
________________________________________________________________________
Total Liabilities and Owner’s Equity Php 5515

13
NARRATIVE SUMMARY
DAY 1: During the soft opening of Food Hauz, the business owners prepared three variety of
products which at some point didn’t take a lot of time to be sold.
Day 2: On the second week, the owners have prepared the same products but with something
heavy. Although it wasn’t sold as easy as the other products, the business owners were able to
sell up to the last drop. They had a hard time entertaining all the customers especially that there
were four products available.
Day 3: The business owners have thought of selling ‘bihon,’ on the third day. Bihon is a famous
dish which can be seen most of the time on special occasions. Bihon surely had been so far the
easiest product to sell, out of all the products they have sold. It didn’t take long. The owners
were able to gain a profit of php 1000.00 already excluding the capital which is php 600.00.
Majority of the owners voted on selling cheese sticks on the third week because it has received a
lot of positive feedbacks from the customers.
Day 4: The business owners somehow developed strategies on selling the products more easily.
On the fourth day of the operation of the business, the owners prepared cheese sticks and
pancakes. Most of the existing businesses offered heavier foods that day which is why the
products were barely sold in the school canteen. However, the owners thought of selling the
unsold goods in other year level canteens, consequently, there were lots of them who wanted to
buy after tasting it, but all the food products have been sold out.
Day 5: This day has to be one of the good days for the owners. All products have been sold, a lot
of customers have been satisfied, and also a good amount of income.

14
DAY 6: The owners agreed on trying macaroni soup this time because it is the most suggested
product. A lot of customers seemed to like eating foods with soup since it is the month of
December. In addition, cheese sticks were also sold.
Day 7: Unlike the first time the owners had sold spaghetti as their main dish, the owners had a
hard time selling the product resulting with an average amount of income. The entrepreneurs
received remarks from the customers requesting new products.
Day 8: The sellers thought of selling bihon and pancake at the same time, heavy enough to
satisfy hunger. The owners were able to sell all the products, garnering a satisfying amount of
income. The owners are eager to work harder as they witness their business growing.
DAY 9: On the ninth day, instead of staying at the school canteen, the owners decided to go
around the school campus to offer other year levels the same products that they offer at the
senior high school canteen. It didn’t take a lot of effort since pancakes were the only products
offered.
Day 10: The business owners have prepared macaroni soup alone on the tenth day. Most of the
customers wanted it with egg, as a result, it took them a long time to sell it completely. The
owners didn’t fail to take note of that request.
Day 11: As much as possible, the young entrepreneurs wanted their products to be made
personally by them. Consequently, it was a challenge to prepare new recipes or food products to
be offered to everyone. The owners tried selling spaghetti with a different taste from the other
spaghettis that have been sold.

15
Day 12: It was very evident that the owners are having a hard time managing their business and
their requirements at the same time. To make things better, the owners came up with the
schedules for food hauz. Owners have been assigned with specific time and date. The owners
decided to grant one of the requests of the customers, macaroni soup with egg.
Day 13: Food Hauz will only be operating for almost a week, operating the business while
studying was indeed exhausting. So to make the business owners rest for a while, they have
decided to sell just the light products. For this day, the owners offered pancakes. Moreover, the
business owners paid for their rent expense the reason why they chose to sell lighter to products
which could be easily sold.
DAY 14: On the fourteenth day, the owners have decided to sell cheese sticks alone. Even with
the lighter products, the business owners had a hard time selling them. Aside from the fact that
they were not allowed to sell in a lot of year levels, other business competitors offer more
product which became another hindrance in selling more easily.
Day 15: This day, the owners have agreed on selling pancakes again because a lot of customers
like it more than the cheese sticks. Receiving good feedbacks from the customers are most
probably the most satisfying to hear during business operations.
Day 16: It was the last day of business simulation, so the business owners thought of selling a
heavy product. However, in contrary to the expectation of the business owners, it was even
harder to sell spaghetti. It took a lot of discounts before it was finally sold out. It also took them
whole day to sell.

16
PROBLEMS MET DURING THE OPERATION OF THE BUSINESS
The business owners have encountered a lot of problems during the operation of the
business. These were the following:
• Some of the owners were always not around
• Losing around Php 215.00 on the fifth day of operation
• Incorrect amount of a customer’s change
• Products offered are sometimes the same with existing business competitors
• Some products weren’t bought
• Demanding customers
SOLUTIONS TO THE PROBLEM
 Some of the owners were always not around
- One of the problems that Food Hauz has encountered was the lack of workers. The
same people work every day to run the business. Therefore, to be fair, the business owners made
a deal that the share of an individual at the end of the day would be based on the number of days
he is present.
 Losing around Php 215.00 on the fifth day of operation
- It is undeniable that managing a large amount of money is hard, the business owners are
aware of their neglectfulness too. During the first days of the operation of Food Hauz, the
business owners failed to do their assigned responsibilities, but after this incident, the owners
learned to follow instructions and learned to become extra careful in managing things.
17
 Incorrect amount of a customer’s change
-The owners knew that reason why the previous income doesn’t satisfy the number of
products sold is because of the lack of workers, since the one who sells was also the one
responsible in giving the change of customers. The business owners made a new strategy to
avoid this, the one who prepares the product will never have to worry about the payment because
someone will be assigned to do that.
 Products offered are sometimes the same with existing business competitors
-The young entrepreneurs of the Accountancy Business and Management have made a
mutual understanding that to avoid clashes during the operation, products to be sold must be
presented first to inform other business owners to avoid the same offered products.
 Some products weren’t bought
- in connection to the fourth problem that Food Hauz has faced, since during the first few
days of the operation, the owners failed to consider that pure competition might exist or identical
products will be offered by existing competitions, there have been times that the products that
food hauz offers have not been bought. Good thing, all the businesses have come up with a deal,
and that is to present to everyone the products that will be offered to avoid pure competition.
 Demanding customers
- The business owners have later on understood that while operating a business, you will
always encounter demanding customers. Thankfully, the owners have learned to have longer
patience to deal with such people overtime.
18
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Lal-lo National High School

Centro, Lal-lo, Cagayan, Philippines

DIMPLE MAE M. CARILLO

CARMIE MAE SOTELO

MICHAEL BENEDICT SADIWA

you and God bless!

spot a business could possibly have.

‘auz’ rather than ‘ouse.’

interest of everyone. It operates around 2-3 times a week.

PRODUCTS AND SERVICES OFFERED

factors that pushed the business owners to include it in the menu.

have given positive feedbacks out of it.

and income of the business every after business operations.

STATEMENT OF COMPREHENSIVE INCOME

FOR THE MONTHS OF NOVEMBER-JANUARY

Sales Php 940

Net Sales 940

Less: Cost of Sales

Merchandise inventory, beginning -

Add/Deduct: Purchases Php600

Purchase Returns and Allowances - Php600

Total Goods Available for Sale 600

Less: Merchandise Inventory, Ending - (600)

Gross Profit Php 340

Less: Other Operating Expenses -

Net Income Php 340

Sales Php 1930

Net Sales 1930

Less: Cost of Sales

Merchandise inventory, beginning -

Add/Deduct: Purchases Php1270

Purchase Returns and Allowances - Php1270

Total Goods Available for Sale 1270

Less: Merchandise Inventory, Ending - (1270)

Gross Profit Php 660

Less: Other Operating Expenses -

Net Income Php 660

Sales Php 1481

Net Sales 1481

Less: Cost of Sales

Merchandise inventory, beginning -

Add/Deduct: Purchases 865

Purchase Returns and Allowances - 865

Total Goods Available for Sale 865

Less: Merchandise Inventory, Ending - (865)

Gross Profit Php 616

Less: Other Operating Expenses -

Net Income Php 616

Sales Php 3656

Net Sales 3656

Less: Cost of Sales

Merchandise inventory, beginning -

Add/Deduct: Purchases Php2262

Purchase Returns and Allowances - Php 2262

Total Goods Available for Sale 2262

Less: Merchandise Inventory, Ending - (2262)

Gross Profit Php 1394

Less: Other Operating Expenses -

Net Income Php 1394

Sales Php 3168

Net Sales 3168

Less: Cost of Sales

Merchandise inventory, beginning -

Add/Deduct: Purchases Php1748