BY:

AGUAS, ALDRIN JOSEPH A.

BOLACTIA, REIN ZENJAH V.
CALMA, LEE RYAN S.
MANABAT, KIMBERLY ANN V.
VILLARAMA, EJAY T.
YAMBAO, JULLIANE KARL B.

12 – WHARTON

SEPTEMBER 21, 2020

 TABLE OF CONTENTS
TITLE PAGE…………………………………………………………………...................

I. PROJECT LIST AND HISTORY

A. Executive Summary…………………………………………………………..4
B. Project Proponents…………………………………………………………….5
C. Name of the Firm………………………………………………………………5
D. Type of Business Organization………………………………………………6
E. Location of Head Office……………………………………………………...6
F. Brief History of Project…………………………………………………………6
II. MANAGEMENT ASPECT
A. Business Goals…………………………………………………………………...
❏ Vision……………………………………………………………………..7
❏ Mission…………………………………………………………………...7
❏ Objectives, Key Results Areas, and Performance Indicators....8
B. Organizational Chart and Duties and Responsibilities………………..10
III. MARKETING ASPECT
A. Product / Service……………………………………………………………..12
B. Target Market…………………………………………………………………12
C. Market Research……………………………………………………………..13
D. Marketing Strategy…………………………………………………………..31
IV. TECHNICAL ASPECT
A. Production Flow Chart / Enterprise Delivery System…………………..34
B. Direct Materials (For Goods), Materials Needed (For Service)..........36
C. Procedures of Producing the Product / Rendering the Service……..45
V. FINANCIAL ASPECT
A. Projected Financial Statements…………………………………………...47
B. Financial Statement Analysis………………………………………………....
1. Liquidity Ratios…………………………………………………………..
A. Current Ratio…………………………………………………..50
B. Quick Ratio…………………………………………………….50
C. Cash Ratio……………………………………………………..50
2. Profitability Ratios………………………………………………………..
A. Gross Profit Ratio……………………………………………...51
B. Net Income Ratio…………………………………………….51
C. Ratio of Net Income to Owner’s Equity…………………..51
D. Ratio of Net Income to Total Assets………………………51
3. Solvency Ratios………………………………………………………….
A. Debt to Equity Ratio………………………………………….52

2
 B. Debt to Total Assets Ratio…………………………………...52
C. Equity Ratio…………………………………………………….52

LIST OF TABLES AND GRAPHS

Customer Profiling
Graph 1: Sex of the Respondents…………………………………………………………17
Graph 2: Age of the Respondents………………………………………………………...18
Graph 3: Location of the Respondents…………………………………………………..18
Results on the Marketability of the Product
Graph 4: Perception on the Price of the Chicken Wings……………………………..20
Graph 5: How Frequent does People Eat Chicken Wings……………………………21
Graph 6: Number of Box People Usually Buy…………………………………………...22
Graph 7: Sauce of the Chicken Wings…………………………………………………...23
Graph 8: How Frequent does People Avail Food Delivery Service………………...24
Graph 9: Best Time to Satisfy Cravings…………………………………………………...25
Graph 10: Preferred Flavor for Chicken Wings………………………………………….26
Graph 11: Preferred Snacks Partnered to Chicken Wings……………………………27
Graph 12: Preferred Promo when Buying Chicken Wings……………………………28

3
 I. PROJECT BACKGROUND AND HISTORY

EXECUTIVE SUMMARY

Wingstack is a sole proprietorship start-up business and hybrid business that

manufactures chicken wings and provides delivery service. It is an online based

shop business that will offer the best-tasting, best quality, and affordable chicken

wings to reach the increasing demand in Bulacan and Pampanga for chicken

wings in the midst of the pandemic that will surely satisfy the taste buds of the

customers. The main difference to make our product towards other businesses is

that we use fresh chicken wings and high-quality ingredients to make our product

more attractive and create a long-lasting impression to the customers. Through

our creative approach to the business’ image and detail presentation, we

wanted to offer products that are cost-friendly yet can compete to both financial

needs of the business and the budget range of its customers.

Wingstack aims to be known in the market especially in the food industry

through its unique taste of the chicken wings that will create an impression to the

hearts and minds of the customers. The proponents made sure that the raw

materials we’ll be using is on quality and chosen carefully.

Wingstack will be producing 70 boxes of a 12-piece chicken wings and will be

selling it to the people in Bulacan and Pampang during Fridays and Saturdays.

The company will make use of the social media (Facebook, Instagram, and

4
Twitter) to showcase what our business has to offer. The company will also use

different promotions other than social media that will help to boost the sales of

the business.

PROJECT PROPONENTS

NAME NATIONALITY ADDRESS %

OWNERSHIP

Aldrin Joseph A. Aguas Filipino Blk3 Lt6 Milflora Homes, 100%

Brgy Sabang, Baliuag,
Bulacan

NAME OF THE FIRM

● “WingStack”

The name of the firm is “Wingstack” and it was made-up of two

words, wing and stack. The company included the word “wings” to its

name simply because the business’ main product is chicken wings. While

the word “stack” means being in a properly arranged order and comes

into a large quantity. Wingstack is the name of the firm because we provide

our customers a delicious chicken wings and properly presented in a large

quantity, enough to feed your starving stomachs and satisfy your cravings.

5
TYPE OF BUSINESS ORGANIZATION

● Sole proprietorship

A sole proprietorship is the simplest business form that can be operated. It

can be operated under the name of its owner. It is form due to its simplicity, ease

of setup, and nominal cost. Our business only needs to register the owner’s name

and secure local licenses, and Wingstack is ready for business. Also, sole

proprietorship is not a legal entity.

● Hybrid

It is a hybrid business wherein it is the combination of manufacturing and

service business. It is manufacturing because we are the one who produces the

chicken wings that will be sold directly to the customers. We also considered

being a service business because in the midst of the pandemic most of the

people want to take their order more conveniently by availing food delivery

service that is why we also offer delivery service to the customers.

LOCATION OF HEAD OFFICE

Wingstack’s head office will be located at Blk3 Lt6 Milflora Homes, Brgy

Sabang, Baliuag, Bulacan.

BRIEF HISTORY OF PROJECT

Wingstack was established in 2020 by Aldrin Joseph A. Aguas together with

Kimberly Ann V. Manabat, Julliane Karl B. Yambao, Rein Zenjah V. Bolactia, Ejay

6
T. Villarama, and Lee Ryan S. Calma. Since most of the members in the business

are fond of eating chicken wings, the team reached a decision to sell chicken

wings. Due to the time of pandemic, the owner also came up with an idea on

how he will make it more convenient and easier for the people who want to eat

chicken wings in the area of Bulacan and Pampanga. He began to work on how

he will run the business, organize the business plan and become prepared on

constructing his business.

II. MANAGEMENT ASPECT

BUSINESS GOALS

VISION

Wingstack aspires to establish a trademark in the hearts and minds of our

customers, bringing satisfaction and happiness to provide the cravings of our

customers. In addition, the company also longs on becoming one of the highest

selling wing enterprises in Bulacan and Pampanga within the next three months.

MISSION

Wingstack is dedicated to provide the highest quality food service and

excellent customer service with our delicious food that will exceed the

expectations of our customer for the purpose of generating a large amount of

money for the business.

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 OBJECTIVES

1. To produce the best quality chicken wings that will exceed the

expectations and satisfactions of our customers.

2. To provide excellent customer service

3. To establish a profitable and successful chicken wings business.

4. To establish a trademark in the hearts and minds of our customers in

Bulacan and Pampanga.

Objectives Key result areas Performance Target

One month Two months Three
months
1. To produce the 1a. Increase in None 30% 50%
best quality customer demand
chicken wings that
will exceed the
expectations and 1b. Number of 840pcs 1,200pcs 1,560pcs
satisfactions of our chicken wings sold
customers.
1c. Recognition/s One in
given by the None None Bulacan or
community or the Pampanga
government for
excellence service.
2. To provide 2a. Positive 12 out of 20 15 out of 20 17 out of 20
excellent customer Customer feedback
service.
2b. Rating of service 3 stars out of 5 4 stars out 4.5 stars out
satisfaction is of 5 of 5
increasing.

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3. To establish a 3a. Increase in sales ₱ 17,500.00 ₱ 25,000.00 ₱ 32,500.00
profitable and
successful chicken 3b. Growth in sales
wings business per reseller None 15% 20%

3c. Number of
people who will
resell the product. 0 4 8

4. To establish a 4a. Number of

trademark in the customers who will 10 out of 20 14 out of 20 16 out of 20
hearts and minds commend the
of our customers in chicken wings.
Bulacan and
Pampanga 4b. Percentage of Bulacan:30% 50% 70%
loyal customers. Pampanga:20 30% 50%
%
4c. Number of
people who like
and follow the 150 250 350
Facebook page.

9
 Organizational Chart and Duties and Responsibilities

Aldrin Joseph A. Aguas

Owner

Kimberly Ann V. Manabat Julliane Karl B. Yambao Rein Zenjah V. Bolactia

Accounting Manager Marketing Manager Production Manager

Ejay T. Villarama
Purchasing Manager

Lee Ryan S. Calma

Sales Supervisor

● Owner

The owner of the business will supervise the team, and be the one who will

make decisions for the business.

● Accounting manager

Accounting manager supervises the daily activities in the accounting

department, analyze, records, track and audit financial information, and

manage accounting staff members.

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 ● Marketing manager

Marketing manager’s duty is to develop a pricing strategy that maximizes

profits and market share but also considers customer satisfaction, evaluating and

maintaining a marketing strategy and also developing each marketing

campaign from start to finish.

● Production manager

His duty is planning and organizing production schedules, ensuring that

health and safety regulations are met, determining quality control standards, and

overseeing production processes.

● Purchasing manager

As a Purchasing Manager, he will be responsible for sourcing equipment,

goods and services and managing vendors. Also search for better deals and find

more profitable suppliers.

● Sales supervisor

Understand customer needs and offer solutions and support, organize and

coordinate sales representatives’ schedules, answer potential customer

questions, and follow-up call questions.

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III. MARKETING ASPECT

Product / Service

Wingstack manufactures high quality wings with its tasty and delicious

flavors, Wingstack guarantees you experience that will exceed your

expectations. The flavored chicken wings come in a box with a quantity of a

dozen (12 pieces) of chicken wings. The customers are able to customize their

orders by picking their desired flavors. Wingstack has four different flavors such as

Buffalo, Teriyaki, Garlic Parmesan and Garlic Buttered. The product is high class,

yet, the company is still able to lower their rates to make their chicken wings much

more affordable. Wingstack also provides their customers an excellent service

with delivery services. Considering this time of pandemic, the business’ primary

concern is their customers’ health, that is why Wingstack will provide delivery

service just to protect their customers and to make the product much more

convenient to get.

Target Market

Wingstack intends to provide the product and service to anyone who

wants to eat chicken wings in Bulacan and Pampanga. The business believes that

the age group from 15 to 30 is the primary age where brand building efforts could

12
take place. They are on limited incomes and seek a value/price relationship that

will not stretch their budgets. The second target is between the ages of 30 to 45,

as they are more flexible in budgets.

Market Research

Objectives

❏ To collect the customers' piques and preferences.

❏ To assess the marketability of our product/service.

❏ To see if customers will be interested in our products.

13
 Survey Questionnaire

Age: ________ Sex: F____ M____ Social Status: ________ Location: __________

1. Do you think that 250 pesos per box is an affordable and reasonable price
for a 12-piece chicken wings?

o Yes

o No

2. How often do you eat chicken wings?

o Everyday

o Once a week

o Once a month

o Others: ___________

3. When is the best time of the week to satisfy your craving in terms of chicken
wings? You can choose more than one.

o Monday

o Tuesday

o Wednesday

o Thursday

o Friday

o Saturday

o Sunday

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4. What flavor of chicken wings do you like the most? You can choose more
than one.

o Garlic Parmesan

o Teriyaki

o Buffalo

o Garlic Buttered

o Others: ____________

5. For the sauce of the chicken wings, which do you prefer?

o Ranch

o Gravy

o Others: ___________

6. What promo/s do you want to receive when purchasing chicken wings?

You can choose more than one.

o Discounts

o Combos

o Buy1Take1

o Others: ___________

7. How many box/es of chicken wings do you usually order?

o One

o Two

o Three

o More than four, kindly specify the no. of box: __________

15
8. Are there any snack/s partnered with chicken wings would you like to
recommend? You can choose more than one.

o French Fries

o Onion Rings

o Chips

o Others: __________

9. How often do you order through food delivery service?

o Every time I order

o Sometimes

o Never

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Graphs and Charts
Customer Profiling

The researchers had chosen a total of eighty-five (85) respondents. Based

on the results, there are fifty-one (51) respondents whose sex is female while the

remaining thirty-five (35) respondents are male.

17
 The researchers also gathered the age of respondents. As a result, the

majority of the respondents are in the age of seventeen (17) with a total of fifty-

two (52) respondents. Second is in the age of eighteen (18) with a total of twenty-

two (22) respondents. Lastly is in the age of sixteen (16) with a total of twelve (12)

respondents.

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 Based on the survey, the result that the researchers have gathered for the

location of the respondents is that most of the respondents lives in Bulacan with a

total of sixty (60) respondents and the remaining twenty-five (25) respondents lives

in Pampanga.

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RESULTS ON THE MARKETABILITY OF OUR PRODUCT

Based on the survey, the results that the researchers have gathered for the

affordability of the price of a 12-piece chicken wings is that most of the

respondents think that the price of the chicken wings is fair enough and

affordable with a total of sixty-two (62) respondents while there are twenty-three

(23) respondents that does not agree and think that the pricing is too high for a

12-piece chicken wings.

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 The researchers conducted a survey on how often does the respondents

eat chicken wings. As a result, forty-nine (49) of the respondents answered that

they eat chicken wings onc3e a month. Next is once a week with twenty-three

(23) respondents. Then, two (2) respondents answered that they eat chicken

wings every day. Lastly, eleven (11) respondents answered others and they have

specified their answer such as once in two months, when they want to eat, when

it has occasions, twice a week, and seldom.

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 Based on the survey that the researcher has conducted, forty (40) of the

respondents usually order only one box of chicken wings. Some of them said that

they order two boxes with a total of thirty-four (34) respondents. The three boxes

of chicken wings got the least response with only nine (9) respondents. While the

other two (2) respondents said that they usually order depending on the size of

the box and there is one (1) respondent stated that he never tried it before.

22
 A survey was conducted by the researchers on what sauce they prefer for

the chicken wings. As a result, the greater number of respondents that selected

ranch sauce is forty-nine (49) respondents. Next is gravy with thirty-three (33)

respondents. Lastly, three respondents responded to others and they specified

their answer such as cheese and spicy garlic ranch.

23
 In this question the researchers want to know how many of the respondents

are ordering through delivery service, as a result sixty-five (65) of the respondents

said that they only avail the delivery service sometimes. Next, are the twelve (12)

respondents who said that every time they order their food. While remaining the

eight (8) respondents never tried delivery service when ordering.

24
 The researchers conducted a survey where they asked their respondents

on when is the best day to satisfy their cravings. According to the results of the

survey, both Saturday and Friday are the best day to satisfy their cravings, with

the total respondents of sixty-two people (62), followed by Sunday with the total

number of fifty (50) respondents. The responses are high in the days Sunday,

Saturday and Friday. However, the days Monday, Tuesday, Wednesday and

Thursday are low. There are fifth teen (15) respondents who answered Thursday,

then fourteen (14) who answered Wednesday, next is Monday with a total of

thirteen (13) respondents and Tuesday with a number of twelve (12) respondents.

25
 In this question the researchers have given the respondents a chance to

choose more than one depending on the flavor they prefer. As a result, the

majority of the respondents prefer Garlic Parmesan as the flavor of the chicken

wings with a total of fifty- nine (59) respondents. Second is the Garlic Buttered with

a total of fifty-six (56) respondents. Third is Buffalo with a total of forty-eight (48)

respondents. Fourth is the Teriyaki with a total of thirty-four (34) respondents. Lastly

there are also ten (10) respondents who have chosen “others” and they have

indicated their preferred flavor wings such as salted egg, honey butter, cheese,

Korean BBQ, and Honey soy sauce.

26
 In this question the researchers also gave the respondents the right to

choose more than one snack that can be partnered to our product, chicken

wings, so the researcher could surely know what are the snacks that are preferred

by the respondents. Most of the respondents chose French fries as a snack

partnered with chicken wings with a total of seventy-one (71) respondents. Next

with that is the onion rings with a total of thirty-nine (39) respondents. Third is the

chips with the total of twenty-five (25) respondents. There are also respondents

who stated their preference on the snack that is not indicated in the questionnaire

such as rice, burger, and nachos. In addition, there is one (1) respondent who said

none and the other one prefers drink which is milk tea. The total respondents who

stated their preference are four (4).

27
 As part of the survey conducted by the researchers, it is asked on what

promos does the respondents mostly prefer, it can be Buy 1 Take 1, Combo, or

Discount promos. According to the respondent’s feedback, sixty-one (61) of the

respondents choose the Buy 1 Take 1promo. There were also fifty (50) respondents

who chose Combo promos. The remaining 44 respondents happen to choose the

Discount promo.

28
CONCLUSION AND RECOMMENDATIONS

Conclusion

In the survey that the researchers have conducted, the results showed that

females are more interested in chicken wings than males ages between

seventeen and eighteen years old, and most of them lived in Bulacan. In the

survey, the price that the researchers come up with is affordable for the

respondents. The respondents also answered that they ordered chicken wings

once in a month. In terms of the flavors of chicken wings, the majority of the

respondents likes Garlic Parmesan flavor and their preferred sauce to their

chicken wings is ranch sauce. Also, most of the respondents only orders one box

every time they buy chicken wings. Based on the survey, it shows that every Friday

and Saturday are the days where respondents are more likely to order chicken

wings. It also proves that the respondents order through delivery service

sometimes. Besides, the researchers asked the respondents what is the best snack

partnered for it and French fries got the highest response. Based on the responses,

customers preferred to avail a Buy 1 Take 1 promo than discounts and combos.

As for the overall results, the business will be feasible.

29
Recommendations

• Wingstack will be focusing on the quality of the chicken wings at an

affordable price that can still lead to the expectations and satisfaction of

the customers in Bulacan and in Pampanga.

• The company will produce four flavors: Buffalo, Garlic Buttered, Teriyaki,

and especially the Garlic Parmesan because it is highly recommended by

the respondents and the company will provide a sauce which is the Ranch

that is also highly recommended by the customers

• The business is advised to sell French fries and Onion Rings partnered with

chicken wings so the customers will be more satisfied on purchasing

chicken wings.

• Online selling is in demand nowadays so Wingstack will sell their products in

this way. The business will be more active during Friday and Saturday

because according to the survey those days are the best time to satisfy the

customers’ cravings.

• Considering that most of the respondents are not always availing food

delivery service, still the business will be going provide delivery service for

the convenience of the customers.

30
 • Wingstack will be providing a Buy1Take1 promo as this is one of the promos

that the customer prefers when buying chicken wings. However, this promo

will be limited occasionally.

Marketing Strategy

Product

The product itself which is the chicken wings is one of the marketing

strategies we will be using as Wingstack will help the customers to solve their

cravings in terms of chicken wings.

Packaging

Wingstack will be using a biodegradable paper bag and the brand name

and logo will be attached to the bag. The main packaging for the product will

be the paper meal box. It will be easier for the company to customize the design

of the box for packaging. In addition, paper box meals are an environment-

friendly material unlike Styrofoam. Also, foods stored in eco-friendly packaging

boxes can maintain its freshness.

31
Promotion

Brand Name and Logo

Wingstack composed a unique brand name that is attractive and

catchy to the eyes of our customers. As the business created this brand

name and logo it can help us to be recognized and known to the customers.

Social Media

For the vast majority of our marketing, Wingstack has come-up with an

effective marketing strategy that will put the company’s product into exposure.

Since we are in the time of pandemic, live interactions cannot be done. However,

Social media is the most used media in terms of exposure that is why the company

will rely on social media and social interactions using channels like Facebook,

twitter and Instagram. These sites are commonly used by consumers in our

demographic market. This will be the perfect platform to make announcements

to our social media pages via regular posts and updates.

32
Overcome Objection

Wingstack is open for feedback and recommendation for the better

experience and fulfil our customers' cravings and to accomplish the goal and

objectives of our business.

Collaborating with an Influencer

It is another way for the business to gain more customers as these famous

influencers can attract more people to be interested in our product. In addition,

our business’ visibility to the market will increase. These influencers and their

platforms like YouTube can help us by commending our product and giving good

reviews.

Price

Setting an Affordable Price

Wingstack keeps the price affordable and reasonable to the customers so

they could enjoy the chicken wings at a low price.

33
IV. TECHNICAL ASPECT

Production Flow Chart / Enterprise Delivery System

Production Flow Chart of Chicken Wings

Creating a Mise en Place

paper

Setting up all the ingredients

and equipment

Seasoning of the chicken

wings

Cooking of the chicken

wings

Packaging of the chicken

wings

Serve/deliver it to the
customer

34
 Enterprise Delivery System

INPUT THROUGHPUT OUTPUT MARKETING DESIRED OUTCOME

❏ Harnessing of ❏ Input is ❏ Product is ❏ Product ❏ Customer

human, money converted marketed ❏ Packaging level
and physical to output. to ❏ Promotion satisfaction
resources the ❏ Price is high in
❏ Resources customers. terms of the
mobilized ❏ Service product
● Money provided is ❏ Revenue
● Men experience generated
●Machines d by the from a
● Materials customers. business
● Methods activity
●Management exceeds the
expenses,
and costs,
involved
❏ Excellent
customer
service.
❏ Established
a trademark
in the hearts
and minds
of the
customers.

35
Direct Materials of Chicken Wings

List of Ingredients

INGREDIENTS DESCRIPTION

Chicken Wings

Chicken wings have a wing tip, but

those aren't often included in
sectioned-off bits of the cut.

Flour

It is a powder made by grinding raw

grains, roots, beans, nuts, seeds, or
bones. It maintains its flavor and quality
well when exposed to high heat for
extended periods, and it has the ability
to crisp up and turn a beautiful golden-
brown.

Egg
The content of the hard-shelled
reproductive body produced by a
bird, considered as food; provides a lot
more protein and will produce a
thicker, more stable crust.

36
Salt

Salt is a mineral composed primarily of

sodium chloride (NaCl), a chemical
compound belonging to the larger
class of salts; salt in its natural form as a
crystalline mineral is known as rock salt
or halite. It has long been used for
flavoring and for preserving food.

Black Pepper

It is a flowering vine in the family

Piperaceae, cultivated for its fruit,
known as a peppercorn, which is
usually dried and used as a spice and
seasoning.

37
Oil

Oil is plant, animal, or synthetic fat used

in frying, baking, and other types of
cooking.

Direct Materials for the Sauce/Flavor of the Chicken Wings

Hot Sauce

Hot sauce, also known as chili sauce or

pepper sauce, is certain types of
condiment, seasoning, or salsa made
from chili peppers and other
ingredients.

Butter

Butter is a dairy product made from

the fat and protein components of
milk or cream.

38
Garlic Powder

Garlic powder is a seasoning that is

derived from dehydrated garlic and
used in cooking for flavour
enhancement.

Parmesan Cheese

It is a family of hard grating cheeses

made from cow's milk and inspired by
the original Italian cheese.

Chili

It is a small hot-tasting pod of a variety

of capsicum, used chopped (and
often dried) in sauces, relishes, and
spice powders.

39
Garlic

Garlic is a species in the onion genus,

Allium.

Maple Syrup

Maple syrup is a syrup usually made

from the xylem sap of sugar maple, red
maple, or black maple trees, although
it can also be made from other maple
species.

Soy Sauce

Soy sauce is a salty liquid condiment

traditionally produced by fermenting
soybeans and wheat.

40
Dry Sherry

Dry sherry, a wine fortified with brandy,

typically shows up in recipes in small
amounts.

Onion

It's the rare food that can be sweet,

savory, pungent and aromatic all at
the same time

41
 List of Equipment

Fryer

A deep fryer is a kitchen appliance

used for deep frying. Deep fryers
generally have a basket to lower the
food into the oil tank and raise it when
the food has finished cooking.

Stove
A kitchen stove often called simply a
stove or a cooker is a kitchen
appliance designed for the purpose of
cooking food. Kitchen stoves rely on
the application of direct heat for the
cooking process.

Freezer

A refrigerated compartment, cabinet,

or room for preserving food at very low
temperatures.

42
Materials Needed (For Service)

MATERIALS DESCRIPTION
Motorcycle

It is a vehicle used to deliver or

transport a product from one place to
another.

Fuel (For the Motorcycle)

Supply or power the motorcycle to be

able to move.

Delivery Bag

It is where the product is stored during

delivery. It helps in maintaining the
temperature of the product due to its
structure.

43
Paper Bag

A paper formed into a bag, usually

used for packaging, where products
will be placed.

Telephone

A system used to send speech or data

over distances. Also, it is used for
making booking or asking orders.

44
Procedures of producing the product / Rendering the Service

Chicken Wings:

1. Wash the chicken wings in water, make sure that the chicken wings are

clean, then let it dry.

2. Marinade the chicken wings at least 6hours with salt and pepper, 5

calamansi juice, 2tbsp oyster sauce, 3cloves garlic and ginger, 3 laurel

leaves, 2tbsp sugar, 1tbsp fish sauce, and 2tbsp soy sauce.

3. Before frying the chicken wings, coat it with flour.

4. In frying, make sure that the oil in the pot is hot before you place the

chicken wings in it.

5. Put the chicken wings one by one in the pot and set it in a medium fire.

6. Fry the chicken wings until golden brown.

7. Add the chicken wings in the pan of sauce then continue mixing it for 2-

3mins.

For the flavor of the chicken wings

Buffalo Sauce:

1. In a pan, make sure to first put the oil before the butter,

2. Sauté 7 chili pepper and 2 cloves of garlic.

45
3. Add 1cup of ketchup and 1tbsp of brown sugar then wait for it until it boils.

Teriyaki Sauce:

1. Mix 2cups of water and 2tbsp of flour in a pot and stir it in a low fire.

2. Add 3 tbsp of soy sauce and 5tbsp of brown sugar.

3. After 3mins add 1 chicken cube.

4. Continue stirring it until it become thick.

Garlic Parmesan Sauce

1. In a pan, put 225grams of butter.

2. Add 1 head of chopped garlic, salt, and pepper.

3. Then add 5 tbsp of parmesan cheese.

4. Mix it thoroughly until it become thick.

Garlic Buttered Sauce

1. In a pan, sauté garlic and onion.

2. Add 200grams of butter, wait for it until it melts.

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V. FINANCIAL ASPECT
A. Projected Financial Statement
WingStack
Statement of Income
For the Month Ended August 31, 2020

Sales
Gross Sales ₱ 17,500.00
Less: Sales Returns and Allowances ₱500.00
Sales Discounts 625.00 (1,125.00)
Net Sales ₱ 16,375.00
Cost of Good Solds
Merchandise Inventory (08/01/2020) 0.00
Purchases ₱ 9,000.00
Less: Purchases Returns and Allowances ₱200.00
Purchase Discounts 300.00 (500.00)
Net Purchases 8,500.00
Cost of Good Available for Sale ₱ 8,500.00
Less: Merchandise Inventory (08/31/2020) (2,500.00)
Cost of Goods Sold (6,000.00)
Gross Profit ₱ 10,375.00
Expenses
Supplies Expense ₱1,000.00
Utilities Expense 2,000.00
Advertising Expense 750.00
Miscellaneous Expense 1,500.00 (5,250.00)
Net Income ₱ 5,125.00

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 WingStack
Statement of Changes in Owner’s Equity
For the Month Ended August 31, 2020

Aguas, Capital (08/01/2020) ₱ 10,000.00

Add: Net Income 5,125.00

Subtotal ₱ 15,125.00

Less: Aguas Withdrawals (1,500.00)

Aguas, Capital (08/31/2020) ₱ 13, 625.00

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 WingStack

Statement of Financial Position

August 31, 2020

Assets

Current Assets

Cash ₱ 9,000.00

Accounts Receivable 1,500.00

Inventories 2,500.00

Supplies 2,125.00

Total Assets ₱ 15,125.00

Liabilities

Current Liabilities

Accounts Payable ₱ 500.00

Utilities Payable 1,000.00

Total Liabilities ₱ 1,500.00

Owner’s Equity

Aguas, Capital (08/31/2020) 13,625.00

Total Liabilities and Owner’s Equity ₱ 15,125.00

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 B. Financial Statement Analysis

1. Liquidity Ratio

A. Current Ratio

Current Ratio = 10.08:1

B. Quick Ratio

Quick Ratio = 7:1

o To get the Quick Assets the formula should be:

Quick Assets = Cash + Temporary Investments + Short Term Receivables

o However, in our statement of financial position there are only cash and

accounts receivable: 9,000.00 + 1,500 = 10,500

C. Cash Ratio

o However, there are no short-term marketable investments indicated.

Cash Ratio = 6:1

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 2. Profitability Ratio
A. Gross Profit Margin

Gross Profit Margin = 0.63:1 or 63%

B. Net Income Margin

Net Income Margin = 0.31:1 or 31%

C. Ratio of Net Income to Owner’s Equity

o To get the average equity the total owner’s equity indicated in the statement of
financial position will be divided by two
o Wherein the Total Owner’s Equity is 13,625
=13,625/2 = 6,812.50

Return on Equity = 0.75:1

D. Ration on Net Income to Assets

o To get the average assets the total assets indicated in the statement of financial
position will be divided by two
o Wherein the Total Assets is 15,125
=15,125/2 = 7,562.50

Return on Assets = 0.68:1

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 3. Solvency Ratio
A. Debt to Equity Ratio

Debt to Equity Ratio = 0.11:1

B. Debt to Total Assets Ratio

Debt to Total Assets Ratio = 0.10:1

C. Equity Ratio

Equity Ratio = 0.90:1

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