SUBMITTED BY:
Republic of the Philippines
BATAC JUNIOR COLLEGE
Marco Franhill A. Arcangel Senior High School Department
Accountancy, Business and Management Strand
City of Batac 2906, Ilocos Norte
Jayvee D. Sapaden

April Jessa Mae S. Aguigam

Seannehmie L. Cariaga

Dee-Drei P. Dueñas

Joanna Phola M. Laduba

Lovely Joy M. Pugal

Charlemaine P. Pungtilan

Criscelle D. Rangcapan

Yvonne Zeta Noeizeane A. Sambo

Aiza A. Truelda

Business Plan
SUBMITTED TO:
Business Enterprise Simulation
Mrs. Agnes T. Fagaragan
Instructor
Executive Summary

Chiz bites is a small business which offers a delightful snack which

definitely satisfy your cravings. Its ingredients give numerous nutrients and
vitamins coming from hot dog, bread, milk, cheese, egg and the like. The
entrepreneurs introduce this product to the community for them to be able to
eat their favorite hot dogs in a healthier way. The good news here is, Chiz
bites could be ate at any time of the day specially morning and afternoon
snack. The product’s golden look could attract the customers to buy. At your
first glance, Chiz bites is mouthwatering and also instagramable that
captivates the attention of the target market.
 Mission

We aim to provide snack that is pocket friendly and satisfies

you up with cheesy happiness.

Vision

To help people enjoy life by offering palatable snack that will

bring them back again and again.

Objectives

 Provide satisfaction to customers’ needs and wants,

 Provide tasty and affordable product,
 Provide excellent customer service.
Product

Chiz bites with a tagline: “Have a cheesy life with Chiz bites” was an innovation
created by young entrepreneurs to offer a snack for everyone. The ingredients gave a
variety of nutrients and vitamins. The over-all appearance would be eye-catching that
would surely attract the customers to buy. The benefits of the product were the following:

-provide vitamins, minerals, fiber -antioxidants

-great source of fat, calcium and protein

-high amounts of vitamins A and B-12

-contains zinc, phosphorus, and riboflavin

-boost your immunity

-enables your body to circulate sufficient amounts of oxygen.

   Strength Weakness Opportunities Threats
S 1. Product It was a new It did not have a strong Putting a stall Customers
W product to the brand awareness because inside the school preferences in the
O market. it’s still new to the to be accessible market segmentation.
T   market. to the students.
It was easy to
make and very
A affordable to
N purchase.
A  
L The materials and
ingredients were
Y
available in the
S market or
I supermarkets and
S grocery stores.
2. Place It was It requires a Can be sold Limited time to
offered permit in selling to inside and sell due to
inside the a specific place. outside the school hours.
schools and target  
outside of market. Competitive
the school Area business firms
premises. growth of in the location.
the product.
3. Price It was Price may differ Price was Competition of
affordable from the sizes. controlled prices to other
and worth it   very well products.
for the It may differ from and  
students. the ingredients expenses Price
Furthermor that was used. were preferences of
e, it suits minimized customers.
their to gain  
budget. profit. Price
fluctuation of
the raw
materials.
4. Promotion It can be It was not easy to Advertisement Cost of load to
advertised earn a promotion through the internet to post
through the when the competition use of pictures of the
word of mouth. was tough. technology product.
    such as
Builds business Lack of reputation. Facebook
reputation to page and also
induce brand through
awareness. posters.

Name
April Jessa Mae S. Aguigam
Charlemaine P. Pungtilan
Dee-Drei P. Dueñas
Criscelle D. Rangcapan
Yvonne Zeta Noeizeane A.
Sambo
Seannehmie L. Cariaga
Lovely Joy M. Pugal
Aiza A. Truelda
Joanna Phola M. Laduba
Jayvee D. Sapaden
Marco Franhill A. Arcangel
TOTAL
Weekly Salary
Position Salary
Owner ₱75 per week x 1 week and 4 days = ₱135
Owner ₱75 per week x 1 week and 4 days = ₱135
Finance Manager ₱50 per week x 1 week and 4 days = ₱90
Marketing Manager ₱50 per week x 1 week and 4 days = ₱90
Sales Director ₱50 per week x 1 week and 4 days = ₱90
Food Technologist ₱50 per week x 1 week and 4 days = ₱90
Food Technologist ₱50 per week x 1 week and 4 days = ₱90
Cashier ₱50 per week x 1 week and 4 days = ₱90
Cashier ₱50 per week x 1 week and 4 days = ₱90
Seller ₱50 per week x 1 week and 4 days = ₱90
Seller ₱50 per week x 1 week and 4 days = ₱90
  ₱1080
Target Market
• Students of the Batac
Junior College
Branding and Packaging
Pricing
Computation for Cost of Sales, Mark-up and Price:
Start-up Cost Equipment and ₱1100
Utility Materials
Daily Expenses Raw Materials ₱630
Cost of Sales:

Raw materials ₱ 8,688.50

Number of Units Produced in 1 week and 4 days 1 989 pieces

Price per Piece ₱7

Add: Mark-up Price ₱3
Total Price of Chiz Bites ₱10
Production Cost (per day):

RAW MATERIALS UTILITY COST

PRICE PRICE
Loaf bread ₱ 140 Electricity and Water ₱ 10

Hotdog 125 Gas Tank 20

Total Utility Expenses ₱ 30

Cheese 130

Oil 80
EXPENSES

Egg 35 TOTAL
Raw Materials Expenses ₱ 630
Bread crumbs 60
Utility Expenses 30

Milk 40
TOTAL PRODUCTION ₱ 660
COST
Skewers 20

Total Raw Materials ₱ 630

Expenses
Fixed Capital

Fixed capital was capital or money that the entrepreneurs’ invested

in fixed assets that was used in production of the products. The
entrepreneurs used a part of their cash investment (Php1 100) in order
to purchase some fixed assets that was needed in making the product.
The other physical assets such as refrigerator and stove were already
personally owned by the entrepreneurs.
Budget

The Chiz Bites business open up with a starting capital of Php1 100
for the budget in purchasing the raw materials needed to produce the
products and for the pre-operating expenses. The capital increased as
the business would success, expand and to be known in the market in
the near future. As a result, the business achieved its profit objectives
and the entrepreneurs have a great income.
Production and Sales Forecast of the Business

Weekly Name of the No. of Units Selling Price Sales

Production Product Produced

Week 1 Chiz Bites 871 pieces of One piece of ₱8 710

(February Chiz Bites Chiz Bites is
10-14, ₱10
2020)

Week 2 Chiz Bites 1118 pieces One piece of ₱11 180

(February of Chiz Bites Chiz Bites is
17-21, ₱10
2020)

Total Sales ₱19 890

 
FINANCIAL REPORT OF
THE BUSINESS
 CHIZ BITES
Journal Entry
For the 2 week Period Ended February 21, 2020

2020 PARTICULARS P/R DEBIT CREDIT

Feb. 10 Cash L1 ₱ 1,100.00
Aguigam and Pungtilan, Capital L2 ₱ 1,100.00
To record investment.

Purchases L2 1,149.50
Transportation Expense L5 72.00
Cash L1 1,221.50
To record goods bought and expense.

Cash L1 750.00
Sales L4 750.00
To record goods sold.

12 Purchases L3 914.50
Utilities Expense L7 180.00
Transportation Expense L5 48.00
Advertising Expense L8 183.00
Cash L1 1,325.50
To record goods bought and expenses.

Cash L1 2,250.00
Sales L4 2,250.00
To record goods sold.
 Cash L1 750.00
Sales L4 750.00
To record goods sold.

12 Purchases L3 914.50
Utilities Expense L7 180.00
Transportation Expense L5 48.00
Advertising Expense L8 183.00
Cash L1 1,325.50
To record goods bought and expenses.

Cash L1 2,250.00
Sales L4 2,250.00
To record goods sold.

13 Purchases L3 949.00
Cash L1 949.00
To record goods bought.

Cash L1 2,920.00
Sales L4 2,920.00
To record goods sold.

14 Purchases L3 1,477.25
Transportation Expense L5 48.00
Cash L1 1,525.25
To record goods bought and expenses.

Cash L1 2,790.00
Sales L4 2,790.00
To record goods sold.
17 Purchases L3 ₱ 1,680.00
Transportation Expense L5 48.00
Cash L1 ₱ 1,728.00
To record goods bought and expense.

Cash L1 2,120.00
Sales L4 2,120.00
To record goods sold.

18 Purchases L3 953.00
Transportation Expense L5 48.00
Cash L1 1,001.00
To record goods bought and expenses.

Cash L1 2,510.00
Sales L4 2,510.00
To record goods sold.

19 Purchases L3 850.25
Transportation Expense L5 48.00
Cash L1 898.25
To record goods bought and expenses.

Cash L1 2,740.00
Sales L4 2,740.00
To record goods sold.
20 Purchases L3 715.00
Transportation Expense L5 24.00
Cash L1 739.00
To record goods bought and expense.

Cash L1 2,590.00
Sales L4 2,590.00
To record goods sold.

21 Salaries and Wages Expense L6 1,080.00

Utilities Expense L7 45.00
Cash L1 1,125.00
To record expenses.

Cash L1 1,220.00
Sales L4 1,220.00
To record goods sold.
 CHIZ BITES
Posting
For the 2 week Period Ended February 21, 2020

CASH L1
2020 EXPLANATION P/R DEBIT 2020 EXPLANATION P/R CREDIT
Feb 10 Initial investment J1 ₱ 1,100.00 Feb 10 Expenses J1 ₱ 1,221.50
10 Cash sales J1 750.00 12 Expenses J1 1,325.50
12 Cash sales J1 2,250.00 13 Goods bought J1 949.00
13 Cash sales J1 2,920.00 14 Expenses J1 1,525.25
14 Cash sales J1 2,790.00 17 Expenses J2 1,728.00
17 Cash sales J2 2,120.00 18 Expenses J2 1,001.00
18 Cash sales J2 2,510.00 19 Expenses J2 898.25
19 Cash sales J2 2,740.00 20 Expenses J2 739.00
20 Cash sales J2 2,590.00 21 Expenses J2 1,215.00
21 Cash sales J2 1,220.00
₱ 20,990.00 ₱ 10,512.50
₱ 10,477.50

AGUIGAM AND PUNGTILAN CAPITAL L2

Feb 10 J1 ₱ 1,100.00

PURCHASES L3
Feb 10 J1 ₱ 1,149.50
12 J1 2,914.50
13 J1 949.00
14 J1 1,477.25
17 J2 1,680.00
18 J2 953.00
19 J2 850.25
20 J2 715.00
₱ 8,688.50
 SALES L4
Feb 10 J1 ₱ 750.00
12 J1 2,250.00
13 J1 2,920.00
14 J1 2,790.00
17 J2 2,120.00
18 J2 2,510.00
19 J2 2,740.00
20 J2 2,590.00
21 J2 1,220.00
₱ 19,890.00

TRANSPORTATION EXPENSE L5
Feb 10 J1 ₱ 72.00
12 J1 48.00
14 J1 48.00
17 J2 48.00
18 J2 48.00
19 J2 48.00
20 J2 24.00
₱ 336.00

SALARIES AND WAGES EXPENSE L6

Feb 21 J2 ₱ 1,080.00

UTILITIES EXPENSE L7
Feb 12 J1 ₱ 180.00
21 J2 45.00
₱ 225.00

ADVERTISING EXPENSE L8
Feb 12 J1 ₱ 183.00
 CHIZ BITES
Trial Balance
February 21, 2020

ACCOUNT TITLES P/R DEBIT CREDIT

Cash L1 ₱ 10,477.50
Aguigam and Pungtilan, Capital L2 ₱ 1,100.00
Sales L4 19,890
Purchases L3 8,688.50
Salaries and Wages Expense L6 1,080
Transportation Expense L5 336
Utilities Expense L7 225
Advertising Expense L8 183
TOTALS ₱ 20,990.00 ₱ 20,990.00
 CHIZ BITES
Income Statement
For the 2 Week Period Ended February 21,2020

Sales ₱ 19,890.00
Less: Cost of Sales 8,688.50
Gross Profit ₱ 11,201.50
Less: Operating Expenses
Salaries and Wages Expense ₱ 1,080.00
Transportation Expense 336.00
Utilities Expense 225.00
Advertising 183.00 ₱ 1,824.00
Net Income ₱ 9,377.50
 CHIZ BITES
Balance Sheet
February 21, 2020

ASSETS
Current Assets
Cash ₱ 10,477.50

LIABILITIES AND CAPITAL

Aguigam and Pungtilan, Capital(Net) ₱ 10,477.50
 CHIZ BITES
Changes in Owner's Equity
For the 2 Week Period Ended February 21,2020

Aguigam and Pungtilan, Capital, Feb. 10 ₱ 1,100.00

Add: Net Income 9,377.50
Auguigam and Pungtilan, Capital, Feb. 21 ₱ 10,477.50
 CHIZ BITES
Cash Flow Statement
For the 2 Week Period Ended February 21,2020

Cash Flow from Operating Expenses

Cash received from customers ₱ 19,890.00
Cash paid for expenses (1,824.00)
Cash paid for suppliers (8,688.50)
Total Cash for Operating Expenses ₱ 9,377.50

Cash Flow from Financing Activities

Cash received from investment of the owners ₱ 1,100.00
Net Increase in Cash ₱ 10,477.50
Add: Cash (Feb. 10,2020) −−
Cash (Feb.21,2020) ₱ 10,477.50
 CHIZ BITES
Closing Entries
For the 2 week Period Ended February 21, 2020
PARTICULARS P/R DEBIT CREDIT
Sales ₱ 19,890.00
Income Summary ₱ 19,890.00

Income Summary ₱ 1,824.00

Salaries and Wages Expense ₱ 1,080.00
Transportation Expense 336.00
Utilities Expense 225.00
Advertising Expense 183.00

Income Summary ₱ 18,066.00

Capital ₱ 18,066.00
 CHIZ BITES
Post-Closing Trial Balance
For the 2 Week Period Ended February 21,2020
ACCOUNT TITLES P/R DEBIT CREDIT
Cash L1 ₱ 10,477.50
Auguigam and Pungtilan, Capital L2 ₱ 10,477.50
TOTALS ₱ 10,477.50 ₱ 10,477.50
 Daily
Accomplishment
Report
 Day 1

On our first day of simulating our business plan, we have made a total
of 75 pieces of Chiz Bites for the whole day and our expenses was Php
1,221.50. For the presentation of our product in our workplace, Ma’am
Agnes suggested to decorate it a bit to look presentable and interesting.
 Day 2

Second day of simulation, we have made 225 pieces which was a lot
greater than our first day. We have predicted that we could sell plenty of it
but we didn’t expect that much that’s why we have ran out of ingredients
but we immediately bought ingredients that was needed and bought some
stocks for the next day.
 Day 3

On our third day, everyone was assigned to go on their designated places.

Five persons stayed at the production section, two at the cooking process, one at
the counter where the cashier was, and lastly three for personal selling which
was a good idea to make our business more organize. We have sold a total of
292 pieces of Chiz Bites. Moreover, when Ma’am Agnes came, she told us to go
inside our room except for the group leader because she did an assessment by
checking the area and ingredients.
 Day 4

On this day was a special day because it’s a celebration for Valentine’s
Day and because of that we decided to have a promo which was “buy three
get one free drink”. We have produced a total of 279 pieces. Personal selling
was our strategy on selling because some of the students did not liked or a bit
lazy to go to the fourth floor.
 Day 5

On this day we have produced a total of 212 pieces which was a bit lesser
than our fourth day. In the afternoon, we computed our cash on hand and our
expenses and how many were sold. In addition, we also bought some stocks
for the preparation on the next day.
 Day 6

We did take turns in our assigned area so that all of us could experience
what each of us were doing. We have sold 251 sticks on this day which was
a good make up point from what we have sold on our fifth day.
 Day 7

Like what we usually do, we made our product and 274 pieces
were sold. In the afternoon, we bought some of the ingredients,
plenty of food packaging supplies and raw materials because we
have almost run out of it.
 Day 8

On this day we have sold 254 pieces which was lesser than our seventh day
because we didn’t prepare that much and we thought that it would be our last
day of selling. But then, they said that we have to sell on the next day even in
the morning only so we bought additional ingredients.
 Day 9

Our last day of simulating our business plan was not enough. We only have a
limited of stocks to sold and some students want more of our product but sadly
we’ve ran out of stocks. There were only 122 pieces that were sold in the
morning. We were very happy because our simulation was a success plus, we
received our salaries.
 To sum it up, the 1 week and 4 days of simulating our business plan
entitled “Chiz Bites” gave us a lot of experienced and lessons. We felt on
how to handle our own business, faced different circumstances every day
and at the same time enjoying and loving what we were doing. We learned
that there should be a division of labor so that the work would be easier, you
must maintain adequate stocks, even have a good relationship with your co-
workers and customers. You also need to be responsible on your designated
area and be patient as well.
 We must always put smiles on our faces and be grateful of
what we have. We were delighted with the result of our task in
Business Enterprise Simulation and Entrepreneurship because
we learned a lot, enjoyed, and even loved our work more.
THANK YOU
FOR
LISTENING!