Samgy Ready Feasibility

Samgy Ready: A Ready-To-Eat Samgyeopsal Business
A Feasibility Study Presented to the Senior High School Department
Baliuag University
Baliwag, Bulacan
In Partial Fulfillment of the Requirements for the
Business Enterprise Simulation of the
Senior High School
Prepared by: ACCESS 2 – GROUP 1
Ellyza Marie R. Fajardo
Carmela Marie M. Cruz
Shiela Mae C. Reyes
Kimberly M. Cruz
Raizen S. Infantado
James Daniel B. Jimenez
Gerald Cezar A. Villanueva
James Neo B. Constantino
Sharmaine Louise H. de Vera
Submitted to:
Mrs. Maridel Serpa Juan

SAMGY READY: A READY-TO-EAT SAMGYEOPSAL BUSINESS 2
I. INTRODUCTION
Our Product
Samgyeopsal is a popular Korean meal served for lunch and dinner. The meat is typically
marinated or seasoned before being barbecued on a grill at the diner's table. Normally, customers
grill their own meat and eat it right off the grill, but our product comes in a single-serving tub!
It's typically served with vegetables, lettuce leaves for wrapping, and a lot of side dishes. As the
popularity of samgyeop expanded in the Philippines, a bunch of new eateries opened to serve
Korean food. Korean restaurants have sprung up all around Manila and the province, and as a
result, we come up to "samgy ready" to serve customers a ready-to-eat samgyeopsal anywhere
they go.
This is a samgyeopsal business that stands out from the crowd, for we offer hassle-free,
convenient, and budget-friendly meals. We provide different meals in a tub, like plain pork, plain
beef, and even flavored meats that come with an appetizing side dish you can enjoy at an
affordable price.
Offered Products
Why did you come up with this business?

Most of us, Filipinos, have adopted other countries’ cultures and customs, including
others’ delicacy and way of living. We can never deny how they influence and affect our tastes
and perspective. Perhaps, you are one of the population who loves listening to other countries’
music like K-Pop and J-Pop. Most especially inclined with other countries delicacies like french
fries, burger, pasta, and samgyeopsal.
Moreover, due to the increasing rate of coronavirus cases, take-home orders became
preferred by most people for the safety and comfort it provides than dining in. The population
lends us the urge to come up with the idea of combining samgyeopsal and take-home.
We sense the crowds’ favorite; that’s why we came up with this samgyeop ready
business. It is something that people will love, most especially by those who are not a fan of
unlimited foods present these days, which are sometimes become an inconvenience for it took a
long time to wait for others to finish. Our objective is to provide what you need the most, which
are hassle-free transactions. What’s in here is the convenience, easy-access, and appetizing
goodies. On top of that, we will surely satisfy your cravings with our budget-friendly samgyeop
in a tub!
Ingredients
• Pork – Samgyeopsal is not samgyeopsal without pork. Pork belly slices are grilled and
were so easy to prepare because you can eat it without marinating. However, there are
also marinated pork if you want.
• Beef – This is another option of the samgyeopsal meat. Same with pork, beef belly slices
are grilled and can be eaten without marinating. There were also varities of marinated
beef if wanted.
• Lettuce – Fresh lettuce can be eaten directly after being washed. Lettuce is used to wrap
the meat and dip it with some spices or sauces after.
• Cheese – Melted cheese dip is widely known in samgyeopsals too. It adds flavor to the
meat, and serves as a sauce as well.
• Ssamjang – It is a Korean barbeque dipping sauce that has a bit spicy and salty flavor.
• Rice – I assume that everyone is familiar with rice. Some people prefer to eat rice
together with samgyeopsal, but some do not.
• Potato Marbles – It is also known as baby potatoes since they are very tiny compared to
the normal potatoes. This is a very popular side dish that is cooked with a sweet sauce.
• Kimchi – This is a spicy and fermented pickle that is one of the most important side
dishes in Korean cuisine. The vegetables used in making kimchi are usually cabbage or
radishes.
• Fish Cake - This is a culinary dish in Korea that is made with filleted fish or other
seafood and is cooked with a different sweet or spicy flavor. It sometimes has sesame
seeds as well.
• Japchae – This is a stir-fried glass noodles and vegetables that is very popular in Korean
cuisine. They say that there is Korean feasts are not complete without japchae.
• Seasoned Soybean Sprouts - This usually tastes a combination of sour, salty and spicy
flavors. Soybean sprouts is being flavored and seasoned to have a unique taste.
Our Business’s Benefits
• Less Calories – It has fewer calories which is really great for those who are on a diet and
just want to satisfy their cravings because it’s only one serving. Affordable samgyeop in
a tub can make you full, and you’ll still feel sexy, for it has a specific portion of meat,
rice, and side dishes. Overeating can give you a lot of calories; that’s why we weighed
our ingredients to have a perfect balance that can make you feel both full and healthy.
• For those people who don’t want “Unli” restaurants – This is very perfect for those
who enjoy samgyeopsal but are not great at eating a lot. Samgy Ready is friendly to those
who don’t enjoy unlimited restaurants, and you can stop yourself from eating a lot
because of this. Our tub contains all the basic ingredients that a typical samgyeopsal has.
• Good for take-out – This is really good for take-out, especially if you want to eat it with
your friends, loved ones, etc. You can find a nice place and enjoy our samgyeop in a tub.
It is also introvert-friendly, for you do not have to eat with strangers. You can just order
it, take it out, and eat it anywhere you want, like when traveling; which is very efficient.
• Cravings Satisfied – Your cravings will be satisfied for only one serving which makes
our business really interesting. With our tasty meat and side dishes, you won’t regret
ordering an order of samgyeop from us.
• Good for souvenirs and giveaways – It is also suitable for souvenirs, especially since
our tub has an aesthetic style where you can post it through social media to make your
friends crave samgyeop too. You can give it to your friends and family who love Korean
food, and with our beautiful packaging, it will look like a take-out from a classy
restaurant.
II.PROJECT PROPONENT
Name of the Business

Samgy Ready
Members of the Organization

• Kimberly Cruz – Owner
She have the final say regarding the matter of the business.
• Sharmaine de Vera – Co-owner
She have the same obligations and perks with the owner.
• James Daniel Jimenez – Stall Manager
He is responsible in overseeing the daily operation of the physical store.
• Carmela Marie Cruz – Head Chef
She is the main cook of the business.
• Shiela Mae Reyes – Social Media Manager
She is responsible in overseeing the daily operation in the social media platforms
• Gerald Villanueva – Stall Order Taker
He is responsible in receiving and serving orders to the customers in the stall.
• Ellyza Fajardo – Assistant Chef
She is responsible in assisting the head chef.
• Raizen Infantado – Online Order Taker
He is responsible in receiving orders from the customers online.
Organizational Chart
III. BUSINESS NAME

Why did you come up with that business name?

Our samgyeopsal business is named “Samgy Ready.” We spent a lot of brainstorming
sessions before we came up with this meaningful name. We agreed on a few things before we
started making suggestions. A name that is easy to remember, spell, and pronounce. Moreover,
for those who have a craving for Korean foods, this business certainly gives a fast service.
Samgy Ready is the concept of pre-cooked grilled meat being placed beside fresh and/or pickled
vegetable leaves, topped with ssamjang, and can be rolled up to produce ssam (wrap). It also has
enough rice and a variety of side dishes to make good combinations. All of this, meanwhile, was
placed in a tub.
Samgy is derived from the word samgyeopsal, which has a lengthy pronunciation. We keep it
short of appealing to millennials because it's catchy, trendy, and so on.
On the other hand, "Ready" is from commercially prepared food designed for ease of
consumption, and it is classified as ready-to-eat. Our business is classified as a convenience or a
ready-to-eat meal. We use the term "ready" to refer to prepared foods that can be sold as hot,
ready-to-eat dishes, as well as room-temperature, refrigerated, or frozen items that require
minimal preparation (typically just heating).
IV. LOCATION
Where is it located?
The researchers decided to locate the business at Concepcion Market at Baliuag, Bulacan. The
plan is to settle a stall nearby the Takoyaki Stall owned by one of the researchers for minimized rental
expenses and for convenience as well. This location is perfect for a small business like this since this is a
market, and several people are most likely to pass by the stall. Moreover, as the Takoyaki stall is already
existing, the Takoyaki buyers can be persuaded to avail of our products as well. Regardless of the
physical stall location, we also considered locating our business on social media platforms in order to gain
and attract customers. The planned Samgy Ready stall is just for take-outs and pick-ups, as the
researchers decided not to require dine-ins since this business offers ready-to-eat tubs.
Google Maps Link:

https://goo.gl/maps/TGRR48ptL3g5iGpC8
Accessibility to Supplies/Proximity to Supplies

The location of the business allows for easy access to resources. The production or
preparation of "samgy ready" is already taking place in that humble stall, which has all of the
necessary inputs such as building ingredients, meats, side dishes, machinery, skilled workers,
and so on. In this business, the location parameter is also taken into account in order to obtain
stuff quickly in the event of a crisis or a lack of resources. This company, on the other hand,
guarantees a perfectly flawless work flow. Furthermore, we consider locations that are chosen to
be closer to the market or suppliers in order to reduce transportation costs and shorten the time it
takes to reach the customer. Especially, continuous and quality supply of the ingredients is
another critical factor in determining the location of manufacturing.
Geographical Advantage
Before finalizing where to launch our business, the following are the geographical
advantages we look forward to looking for:
1. Accessibility. Public markets are the place where buying and selling of products are
conducted. In terms of focusing on our target market, we look for a place where the
people ages 11-55 are anyhow present.
2. Convenience. The chosen location where to administer the operation is near the
schools, offices, and stalls where the target market is placed. In just a few steps, they
can easily satisfy their cravings with our budget meals offered.
V. PROPOSED TARGET
MARKET
Who is our target market?

The business administration categorized the target market through geographic
segmentation (location-based), demographic segmentation (population-based), psychographic
segmentation (lifestyle and socio-economic-based), and behavioral segmentation. Also, they
somehow considered the 4P's since the heart of the business lies in its marketing. The closer the
marketing mix of product, price, place, and promotion is to customers' requirements, the more
effective it is. The management worked hard to ensure that the target market would eventually
grow and extend in order to consider such marketing efforts.
The "Samgy Ready" suited students, employees, and professionals between the ages of 11
and 55 who were from low- and middle-income families and had an easygoing lifestyle.
However, senior citizens are still considered by the business since some senior citizens support
this type of food and have a strong appetite. Furthermore, we have come to the realization that
the best target market among the abovementioned are the younger generations who follow the
trend and are fans of Korean cuisine.
Due to the obvious phenomenology of Korean meals in social media, it appeals to a large
number of young people. People who spend the majority of their income on convenient ready-to-
eat meals will also be targeted by the business. Nowadays, the population of working individuals
is continuing to expand, as is the millennial population, which has busy work schedules and on-
the-go consumption habits. For such persons and circumstances, the business depicts a
convenient service and product.
VI. BACKGROUND AND

HISTORY
What is the story behind this ready-to-eat samgeyopsal business?

First of all, samgyeopsal is a prominent dish in Korea that is usually eaten during night. A
typical samgyeopsal consists of meat, marinated or seasoned, and is cooked using a grill at the
table. The meat is usually being eaten directly from the grill after being cooked. Also, it is
usually served with ssamjang, vegetables, and the leaves of the lettuce to wrap it all over.
It was said that samgyeopsal was originated from Kaesong during the early 20th century
(Argarin, 2021). Argarin (2021) also stated that, “Koreans have long preferred beef over pork, a
predilection that dates back as far as the Joseon Dynasty.” With that, the Korean entrepreneurs came
up with the plan of making samgyeopsal a business as Koreans love eating meat.
Samgyeopsal was not just widely known in Korea, but in the Philippines as well. Filipinos started
to adapt Korean cultures and samgyeopsal is one of them. Korean restaurants have been showing up
consecutively because of the sudden splash of the samgyeopsal trend here in the Philippines. Moving
forward to the main business, which is the samgeyeop in a tub, there were only few businesses starting
this business line. Whoever started ‘samgyeop in a tub’ is not fully recognized. However, there are
existing samgyeop in a tub business but in comparison to Korean Samgyeopsal Restaurants, they are not
plenty.
Samgy Ready, a ready-to-eat samgyeopsal business, was idealized in the first quarter of
2022. This business was planned mainly because, the researchers are certified ‘Samgy Addicts.’
Due to that reason, they decided to explore the business world with their ambition to share what's
their comfort food at a budget-friendly price. Some people might be familiar or not with samgyeopsal
in a tub, and the researchers aim to make this a trend by making this business true to life. As the
researchers went along with this study, the possible execution of this business will reveal if it’s
feasible or not.
VII. LOGO
The Official Logo of the Business
The Description of the Logo

The background of Samgy Ready’s logo is full of meat which defines our product. Since
samgyeopsal is not samgyeopsal without meat, we decided to use it as a symbolic feature in the
background for the audiences to know that we are a samgyeopsal business. With the peachy
color, it makes the logo more neat and clean. Moreover, this color makes the other elements look
more visible; plain but not too boring.
S and R were bigger to give a notable impact to the audiences as they are the first letters
of our business name, which is Samgy Ready. Red is the chosen font color for those letters to
make it more remarkable and eye-catching. Also, there's cute chopsticks in the middle of S and R
since chopsticks is the utensil that we commonly use when eating Korean meals like
samgyeopsal.
This single representation of our logo showcases the whole idea of samgyeopsal and it
will be easier for the people to comprehend that our business is a samgyeopsal business and just
by looking at it, they will never be confused. In order for the audiences to not be misinformed
that our business name is S/R, we included our business name, Samgy Ready, below our
business symbol to make it clearer. All in all, Samgy Ready’s logo is not too deep and
sentimental in meaning, since we focused more on making it easier to understand and pleasing to
the eyes. Our primary goal in making this logo is to make people figure out our business nature
in one single glance.
Manufacturing Process
Samgy Ready, a ready-to-eat samgyeopsal business, observed that Filipino people are
getting samgyeopsal addicts nowadays. Samgyeopsal became a trend and that is what makes this
business very possible to happen. Samgy Ready might not be the first one who established this
kind of business, but we will try our very best to be on top of them all. All throughout this
business, every aspect has been studied enough in order to serve our customers the best that they
deserve.
Before ending up with the decision of having a samgyeopsal business, we firstly assessed
the market’s needs and wants, as well as the trendy businesses currently. All of the researchers
were tasked to think of a business, and we have ended up with this exceptional business idea.
After deciding the business, we have then listed all the ingredients and materials that we need.
Like what is mentioned, since samgyeopsal is popular nowadays, we already have a prior idea
when it comes to the ingredients that we need since we are all once a samgyeopsal consumer.
Thereafter, we later on considered the place where our business would be best located.
Moving forward, we started to do samples in order to determine the exact measurements
to make our product as perfect as it can be. Upon judging the made samples, we were able to fix
the things that needed to be changed that includes the betterment of the taste, its physical
appearance, and the packaging and presentation. After being satisfied with the sample, we
proceeded to the calculation of expenses and now estimated the best selling price for our
products. Beyond everything, Samgy Ready products were then released to the market. In order
to reach wide audiences, Samgy Ready is accessible to almost all the social media platforms
available in the Philippines where virtual marketing strategies were then implemented. After
everything was settled, Samgy Ready was ready to sell and operate.
Manufacturing Process Chart
Assessment of Expenses
market trends, calculation and Product Release
needs, and wants price estimation
Improve and Implementing

finalize the marketing
Brainstorming
products until strategies through
satisfied online
Decision-Making
Making of
regarding the final Selling
prototypes
business
Listing of the
Looking for the best
needed ingredients
business location
and materials
Ingredients:
• Pork/Beef Meat • Cooked Rice
• Lettuce • Kimchi
• Ssamjang • Potato Marbles
• Cheese Dip (can be instant, or DIY: • Seasoned Soybean Sprouts
Cheddar Cheese, Butter, Evaporated • Japchae
Milk/All Purpose Cream, and • Fishcake
salt/pepper to taste *optional)
Procedures:
TO MAKE THE WHOLE PRODUCT – READY-TO-EAT SAMGYEOPSAL:
1. Firstly, we will grill the pork/beef meat using a samgyeopsal electric griller. Then, set
aside.
2. Prepare the lettuce by soaking it with ice cold water to make it crunchy. Set aside.
3. Almost all of the samgyeopsal side dishes and sauces can be bought as it is, so all we
need to do is to prepare them all on a table.
4. Prepare the packaging materials especially the tubs and containers.
5. Arrange all of the needed ingredients neatly in the tub.
6. Pack the order/s attractively. The ready-to-eat samgyeopsal by Samgy Ready is now set
and done!
Note: We recommend you to reheat the cheese dip if there is any, since it might be not on its
best consistency already due to the delivery time.
TO MAKE THE DIY CHEESE DIP:
1. Turn on the stove in medium heat and put a pan.
2. Put some butter.
3. Put the milk or all-purpose cream.
4. Grate the cheddar cheese directly to the pan. Mix well.
5. Try to taste the mixture, you can add more cheese if you want. You can also add salt and
pepper to tase depending to your preferences.
6. Mix until the mixture gets gooey or thick. Once done, set it aside on a bowl or container.
Samgy Ready products are very easy to make since all of the needed ingredients are ready-
made available in the market. Our main challenge here is to look for suppliers that offer the best-
tasting samgyeopsal ingredients, as well as our packaging presentation. But, we made sure that
we will be offering the best ready-to-eat samgyeopsal tubs, in terms of the taste, packaging,
service, quality, and affordability. To conclude the whole procedure of Samgy Ready’s products,
it is more of preparing and arranging the ingredients properly. After making sure that our
products are now ready to serve, Samgy Ready is now ready to consume! Cravings satisfied!
Manufacturing Flow Process Chart
Purchase of Preparation of
Cooking
Ingredients and Ingredients and
Process
Materials Materials
Double-
Ready for Packaging
Checking of
selling! Process
Products
VIII. PROJECT
OBJECTIVES
Project Objectives
A business will never be completed and successful without any objectives at all. The
following are the main and long-term objectives of Samgy Ready:
The Main Objectives of the Business
• Serve good quality and tasty food
• Fulfill customers’ satisfaction and make them loyal to the brand
• Offer a diverse menu that the customers will always look for
• Satisfy the customers’ cravings
• Offer a reliable and affordable products
• Provide excellent customer service
• Provide job opportunities to people
• Establish a healthy and safe environment and relationships
• Generate sales and profit with good cash flows
• Reach or exceed the daily quota every day
• Stay competitive among the competitors
• Focus on the continuous business growth and betterment
The Long-Term Objectives of the Business
• Introduce a new product line
• Reach out to a new and larger population and target markets
• Improve the business establishments and stalls
• Expand the business by having more branches and outlets in other locations to let
the business grow more
• Provide a higher salaries, incentives, and compensations to the employees
• Properly observe the business ethics and social responsibility while earning
• Constantly maintain a good image and reputation
• Get capable of making the business indestructible
• Create a long-lasting effect to people
• Make the business permanent and succeed continuously
IX. COMPANY OVERVIEW

AND PROFILE
Company Overview and Profile

Samgy Ready is a food-producing sole proprietorship business that offers a ready-to-eat
samgyeopsal that is not so usual to the Filipino people yet. Samgy Ready’s products can be
customized by the customers depending on their own preferences. The main and only physical
stall of Samgy Ready is located at Baliuag, Bulacan, specifically nearby a market, that is best to
locate a business as this place is very prone to people. Samgy Ready not just aims to generate
profit, but to meet the target market’s standards, and satisfy their cravings at a very affordable
price.
Business Name: SAMGY READY

Business Type: SOLE PROPRIETORSHIP
Business Concentration: READY-TO-EAT SAMGYEOPSAL BUSINESS
Complete Business Address: DR LUIS REYES ST., CONCEPCION, BALIUAG,
BULACAN, PHILIPPINES
Phone Number: +639162333734
Telephone Number (Landline): 044-6621163
Official E-mail Address: samgyready@gmail.com
Social Media Account (Facebook Page): https://www.facebook.com/samgyready/
Social Media Account (Instagram): @samgyready
Social Media Account (Twitter): @samgyready
Social Media Account (TikTok):@samgyready
Primary Line of Business: “All is ready with Samgy Ready!”
X-XI. MISSION AND VISION

SAMGY READY’S MISSION

Samgy Ready’s mission is to give an excellent taste of Korean samgyeopsal to our
consumers. We also want customers to have a nice, courteous, friendly, and proper experience
while ordering with us. We're also working on new ways to provide a better customer
experience. In addition, our company aspires to meet the needs of each individual who purchases
goods or services by providing high-quality products and services. Furthermore, we place high
importance on the safety and satisfaction of our customers, which is why we ensure that
everything in it, including the individuals who work, is clean and neat. We hope that by doing
these things, we develop a positive company-customer relationship with our customers, resulting
in their continued loyalty to us. We will be able to raise enough money to improve the services
we provide and to assist the community in which we serve in any way we can once people
become loyal to us.
SAMGY READY’S VISION
Samgy Ready’s vision is to remain competitive in the market no matter how much time
passes by offering our customers delectable single-served tubs that will not only fill their
stomachs. In particular, we anticipate several expansion and franchising opportunities for the
business. We'll continue to innovate and expand our menu to include more Korean cuisine. Our
persistent goals will be to give our customers the entire experience of a traditional Korean
restaurant in a single-served tub. We will bring joy to our guests through delicious, high-quality
meals and an exceptional experience in the Korean food industry. We'll go beyond success
provided that Samgy Ready’s transformation outperforms its peers over time. The company will
be more prepared, more monetizable, and able to expand to more branches.
PROJECT TIMETABLE
AND STATUS
Samgy Ready’s Project Timetable and Status

A project timetable and status makes sure that a project is clear and properly planned
(Stepanov, 2021). In this project timetable and status, we aim to efficiently establish the structure
of our project, and to provide a step-by-step guidance.
The table below showcases what we mainly do and our monthly schedule and tasks for
the project’s progress.
TASKS JAN. FEB. MAR. APR. MAY. STATUS
Brainstorming Done
Conceptualization Done
Research Done
Introduction Done
Marketing Aspect Done
Technical Aspect Done
Management Aspect Done
Financial Aspect Done
Socio-Economic Aspect Done
Appendices
Product Video Ad.
Presentation
Exhibit
XII. COST OF
ESTIMATED
PRODUCTION
Samgy Ready’s Daily Cost of Estimated Production

Unit per Quantity Price per unit Daily Cost ( ₱)
Particulars
serving/tub (per 65 tubs) ( ₱) (per 65 tubs)
Raw Materials:
Plain Pork Belly 100 g. 6,500 g. 31.00 2,015.00
Fish cake 31.25 g. 2,031.25 g. 8.75 568.75
Japchae 31.25 g. 2,031.25 g. 11.25 731.25
Kimchi 31.25 g. 2,031.25 g. 8.75 568.75
Marble Potato 31.25 g. 2,031.25 g. 6.25 406.25
Ssamjang 1.5 oz. 97.5 oz. 3.00 195.00
Cheese 3 oz. 195 oz. 5.00 325.00
Lettuce 40 g 2,600 g. 3.00 195.00
650 ml. Microwavable Lunch Box 1 pc. 65 pcs. 4.20 273.00
2 oz. Disposable Sauce Cup 1 pc. 65 pcs. 2.40 156.00
3 oz. Disposable Sauce Cup 1 pc. 65 pcs. 2.90 188.50
Chopsticks 1 pair 65 pairs 1.50 97.50
Packaging 1 set 65 sets 4.00 260.00
Total Cost of Raw Materials ₱ 5,980.00
Total Labor Cost ₱ 4160.00
TOTAL COST OF ESTIMATED PRODUCTION ₱ 10,140.00
According to Hayes (2021), the cost of production is defined as the expenses of a

business in manufacturing their products or in providing their services.
Here in our table shown above is Samgy Ready’s Daily Cost of Estimated Production.
We looked for the sum of the cost of raw materials and labor cost in order to get the total
cost of estimated production. There were no other extra expenses that are involved in the
production process aside from these two that were included in the table. The total labor cost was
from the cost of estimated labor elaborated in the next pages.
Note: The estimated number of products produced every day is 65 tubs.
XIII. COST OF
ESTIMATED SALES
Samgy Ready’s Daily Cost of Estimated Sales

Beginning Inventory ₱ 0.00
Net Cost of Purchases:
Purchases ₱ 5,980.00
Purchase Discounts 0.00
Purchase Returns 0.00
Net Purchase 5,980.00
Freight In ₱ 0.00 5,980.00
Cost of Goods Available for Sale 5,980.00
Ending Inventory (₱ 644.00)
COST OF ESTIMATED SALES ₱ 5, 336.00
According to Accounting Tools (2022), cost of sales refers to the sum of all costs that
were used in making the product or service, which has now been sold.
The table shown above is Samgy Ready’s Daily Cost of Estimated Sales.
There was no beginning inventory, because the data that we have estimated is the first
day of our selling, which is our grand opening day, meaning there were no leftovers from
yesterday.
The purchases were based on the data given on the total cost of raw materials. There
were no purchase discounts because the supplier doesn’t offer any discounts even for bulk
orders. Also, there were no purchase returns since all goods purchased were in good condition.
There was no freight in too, as the delivery was free.
The ending inventory was in that amount because we estimated that there will be a total
of 7 tubs unsold at the end of the day, in which we computed 7 tubs multiplied to its per unit cost
which is 92 pesos.
With those given data, we were able to compute the cost of estimated sales.
XIII. COST OF LABOR

Samgy Ready’s Daily Cost of Labor

Labor Category No. of Employees Basic Wage/Daily Salary
Stall Manager 1 ₱ 1,000.00
Head Chef 1 1,000.00
Social Media Manager 1 550.00
Assistant Chef 1 440.00
Stall Order Taker/Cashier 1 435.00
Online Order Taker/Online Cashier 1 435.00
Dishwasher 1 300.00
Total Number of Employees 7
TOTAL COST OF LABOR ₱ 4,160.00
According to The Investopedia Team (2020), the cost of labor refers to the total of all
salaries and wages that are paid and given to the employees including their benefits and payroll
taxes.
The table shown above is Samgy Ready’s Daily Cost of Labor.
XIV. INCOME
STATEMENT OF
FINANCIAL
PERFORMANCE
Samgy Ready’s Daily Income Statement of Financial Performance

Samgy Ready
Income Statement of Financial Performance
As of June 1, 2022
Sales ₱ 11,542.00
Sales Returns (₱ 0.00)
Sales Discounts (0.00) (0.00)
NET SALES ₱ 11,542.00
Cost of Goods Sold
Beginning Inventory ₱ 0.00
Net Cost of Purchases
Purchases ₱ 5,980.00
Purchase Returns 0.00
Purchase Discounts 0.00
Net Purchases 5,980.00
Freight In 0.00 5,980.00
Cost of Goods Available for Sale 5,980.00
Ending Inventory (644.00) (5,336.00)
Gross Profit ₱ 6,206.00
Expenses:
Salaries Expense (₱ 4,160.00)
Tax Expense (124.12)
Miscellaneous Expense (99.00) (4,383.12)
NET INCOME ₱1,822.88
According to Krishnan (n.d.), income statement is defined as the financial statement that
details the business’s income and expenses, and shows if the business is gaining profit or loss in
a specific period of time.
The table shown above is Samgy Ready’s Income Statement of Financial Performance.
The sales was computed by 58 sold tubs multiplied to 199 pesos, which is our selling
price for our Set C. In our opening day, we decided to just sell our best tasting set, which is the
Set C. There were no sales discounts, as we decided to not offer discounts yet since we were just
starting. Also, there were no sales returns, as we expect the consumers to be fully satisfied with
our products and no returns to happen.
The net cost of purchases section was based on the table of cost of estimated sales on the
previous part of this paper.
The gross profit was the difference in subtracting the cost of goods sold or cost or sales
from the net sales.
The salaries expense came from the total cost of estimated labor as stated recently. The
tax expense was computed as the 2% of the gross profit, basing on what is stated by Deloitte
(2021). The miscellaneous expense was the personalized tarpaulin used in front of our mini table
stall.
With those given data, we were able to assess that what we have estimated was a good
one as it resulted in a net income of almost two thousand pesos.
References
Accounting Tools (2022). Cost of sales definition.
https://www.accountingtools.com/articles/what-is-the-cost-of-
sales.html#:~:text=The%20cost%20of%20sales%20is,goods%20at%20a%20reasonable
%20cost
Deloitte (2021). International Tax Philippines Highlights 2021.
https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-
philippineshighlights-2021.pdf
Hayes, A. (2021). THE EVOLUTION OF ACCOUNTING TERMINOLOGY.
https://www.investopedia.com/terms/p/production-
cost.asp#:~:text=Key%20Takeaways,manufacturing%20supplies%2C%20and%20genera
l%20overhead
Krishnan, V. (n.d.) Income statement – Definition, Importance and Example.
https://www.zoho.com/books/guides/what-is-an-income-
statement.html#:~:text=An%20income%20statement%20is%20a,financial%20health%20
of%20your%20business
The Investopedia Team (2020). Cost of Labor. https://www.investopedia.com/terms/c/cost-of-
labor.asp#:~:text=The%20cost%20of%20labor%20is,and%20indirect%20(overhead)%20
costs

Samgy Ready Feasibility

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Samgy Ready Feasibility

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Samgy Ready: A Ready-To-Eat Samgyeopsal Business

A Feasibility Study Presented to the Senior High School Department

In Partial Fulfillment of the Requirements for the

Business Enterprise Simulation of the

Senior High School

Prepared by: ACCESS 2 – GROUP 1

Ellyza Marie R. Fajardo

Carmela Marie M. Cruz

Shiela Mae C. Reyes

James Daniel B. Jimenez

Gerald Cezar A. Villanueva

James Neo B. Constantino

Sharmaine Louise H. de Vera

Mrs. Maridel Serpa Juan

Why did you come up with this business?

Name of the Business

Members of the Organization

III. BUSINESS NAME

Why did you come up with that business name?

Google Maps Link:

Accessibility to Supplies/Proximity to Supplies

Who is our target market?

VI. BACKGROUND AND

What is the story behind this ready-to-eat samgeyopsal business?

The Official Logo of the Business

The Description of the Logo

Manufacturing Process Chart

Improve and Implementing

Manufacturing Flow Process Chart

IX. COMPANY OVERVIEW

Company Overview and Profile

Business Name: SAMGY READY

X-XI. MISSION AND VISION

SAMGY READY’S MISSION

Samgy Ready’s Project Timetable and Status

TASKS JAN. FEB. MAR. APR. MAY. STATUS

Marketing Aspect Done

Technical Aspect Done

Management Aspect Done

Financial Aspect Done

Socio-Economic Aspect Done

Product Video Ad.

Samgy Ready’s Daily Cost of Estimated Production

According to Hayes (2021), the cost of production is defined as the expenses of a

Samgy Ready’s Daily Cost of Estimated Sales

XIII. COST OF LABOR

Samgy Ready’s Daily Cost of Labor

Samgy Ready’s Daily Income Statement of Financial Performance

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