BananaRina Company

A Proposed Production and Distribution of Flour from Banana Peel

Statement of Financial Performance (BMBE )
For the Year Ended December 31 2017 to 2021
Sch
Total Sales, Net of Vat

Less: Cost of Goods Sold

Gross Profit
Less: Operating Expenses
General and
Administrative Expenses
Selling Expenses
Net Operating Income

63
64

2017
2,503
,861.19
2,003
,088.95
50
0,772.24

2018
2,63
4,925.10
2,08
5,308.18
54
9,616.92

28

27

6,014.34

5,597.24
17

5,708.57

117 | P a g e F i n a n c i a l A s p e c t

2,7
33,998.28
2,1
43,308.90
5
90,689.38
2
89,723.98

18
1,981.17

3
9,049.33

2019

1
88,623.02

9
2,038.51

1
12,342.37

2020
2,836,
796.62
2,198,
378.30
638
,418.32

2021
2,94
3,460.17
2,25
8,844.15
68
4,616.02

297
,209.69
194
,900.76
146
,307.87

30
7,695.85
20
1,414.54
17
5,505.63

BananaRina Company
A Proposed Production and Distribution of Flour from Banana Peel
Statement of Financial Performance (Non-BMBE)
For the Year Ended December 31 2017 to 2021
Sch
Total Sales, Net of Vat

Less: Cost of Goods Sold

Gross Profit
Less: Operating Expenses
General and
Administrative Expenses
Selling Expenses

63
64

Net Income

2018
2,63
4,925.10
2,08
5,308.18
54
9,616.92

28
5,014.34

27
9,803.73

17
5,708.57

18
1,981.17

Net Operating Income

Less: Income Tax

2017
2,503
,861.19
2,003
,088.95
50
0,772.24

0,049.33
81

8
7,832.02

5
0,139.00
(1
0,089.67)

118 | P a g e F i n a n c i a l A s p e c t

5
8,931.05
2
8,900.98

2019

2020
2,7

590,689.38

2,83
6,796.62
2,19
8,378.30
63
8,418.32

288,647.37

7,209.69

33,998.28
2,1
43,308.90

188,623.02
113,418.99
66,324.09
47,094.90

2021
2,94
3,460.17
2,25
8,844.15
68
4,616.02

29

30
6,536.75

19
4,900.76

20
1,414.54

14
6,307.87
74,915.30
71,392.57

17
6,664.73
8
3,230.88
9
3,433.85

Beginning Inventory
Add: Units Produced
Total Goods Available for Sale
Less: Ending Inventory
Units Sold

Schedule 1
Sales Budget in Units (In Sacks)
Sch
2017
2018
0
62
Table 3
4425
4425
4425
4487
62
62
4363
4425

2019
62
4425
4487
62
4425

2020
62
4425
4487
62
4425

2021
62
4425
4487
62
4425

Schedule 2
Projected Sales
Units Sold
Multiply: Selling Price

Schedul
e
1
Table 11

Total Sales-Gross of VAT

Less: 12% Output VAT
Total Sales-Net of VAT

2017

2018

2019

2020

2021

4,363
4,425
642.75
666.92
2,804,324.5
2,951,116.11
3
300,463.34
316,191.01
2,503,861.1 2,634,925.1
9
0

4,425
692.00
3,062,078.0
7
328,079.79
2,733,998.2
8

4,425
718.01
3,177,212.2
1
340,415.59
2,836,796.6
2

4,425
745.01
3,296,675.3
9
353,215.22
2,943,460.1
7

1,794,767.7
0
192,296.54
1,602,471.1

1,959,729.9
7
209,971.07
1,749,758.9

2,033,415.8
1
217,865.98
1,815,549.8

2,109,872.2
5
226,057.74
1,883,814.5

Cash Sales
64% Cash Sales-Gross of VAT
Less: 12% Output VAT
Cash Sales-Net of VAT
119 | P a g e F i n a n c i a l A s p e c t

1,888,714.3
1
202,362.25
1,686,352.0

Less: 12% Output VAT

1,009,556.8
3
108,166.80

1,062,401.8
0
113,828.76

1,102,348.1
1
118,108.73

Credit Sales-Net of VAT

901,390.03

948,573.03

984,239.38

1,143,796.4
0
122,549.61
1,021,246.7
8

1,186,803.1
4
127,157.48
1,059,645.6
6

Credit Sales
36% Credit Sales-Gross of VAT

Schedule 3
Cost of Goods Sold
Schedul
e
Finished Goods Inventory, Beg.
Add: Cost of Goods
Manufactured

Total Goods Available for Sale

Less: Finished Goods Inventory,
End

Cost of Goods Sold

2017

2018

2019

2020

2021

0
2,031,553.6
6
2,031,553.6
6

28,464.71
2,086,061.3
5
2,114,526.0
5

29,217.88
2,144,121.5
7
2,173,339.4
5

30,030.54
2,199,149.8
9
2,229,180.4
4

30,802.14
2,259,691.3
5
2,290,493.4
9

28,464.71

29,217.88

30,030.54

30,802.14

31,649.34

2,003,088.9
5

2,085,308.1
8

2,143,308.9
0

2,198,378.3
0

2,258,844.1
5

2020

2021

Schedule 4
Total Cost and Unit Cost of Goods Manufactured
Schedul
2017
2018
2019
120 | P a g e F i n a n c i a l A s p e c t

Direct Materials

e
8

418,144.92

Direct Labor

974,148.53

Manufacturing Overhead
Total Cost of Goods
Manufactured
Divide: Units Produced
Unit Cost

639,260.21
2,031,553.6
6
4,425.00
459.11

Table 3

420,876.72
1,011,327.0
7
653,857.56
2,086,061.3
5
4,425.00
471.43

423,999.21
1,050,970.6
8
669,151.68
2,144,121.5
7
4,425.00
484.55

Schedule 5
Computation of Finished Goods Inventory
Schedule
Units
Unit Cost
2017
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory
Schedule
2018
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory
121 | P a g e F i n a n c i a l A s p e c t

0
4,425
4,425
(4,363)
62

0
459.11
459.11
459.11
459.11

Units

Unit Cost

62
4,425
4,487
(4,425)
62

459.11
471.43
471.26
471.26
471.26

427,240.27
1,087,194.1
4
684,715.48
2,199,149.8
9
4,425.00
496.98

430,603.23
1,128,322.0
0
700,766.12
2,259,691.3
5
4,425.00
510.66

Total Cost
0
2,031,553.66
2,031,553.66
(2,003,088.95)
28,464.71
Total Cost
28,464.71
2,086,061.35
2,114,526.05
(2,085,308.18)
29,217.88

Schedule
2019
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory

Schedule
2020
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory
Schedule
2021
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory

122 | P a g e F i n a n c i a l A s p e c t

Units

Unit Cost

62
4,425
4,487
(4,425)
62

471.26
484.55
484.36
484.36
484.36

Units

Unit Cost

62
4,425
4,487
(4,425)
62

484.36
496.98
496.81
496.81
496.81

Units

Unit Cost

62
4,425
4,487
(4,425)
62

496.81
510.66
510.47
510.47
510.47

Total Cost
29,217.88
2,144,121.57
2,173,339.45
(2,143,308.90)
30,030.54

Total Cost
30,030.54
2,199,149.89
2,229,180.44
(2,198,378.30)
30,802.14
Total Cost
30,802.14
2,259,691.35
2,290,493.49
(2,258,844.15)
31,649.34

Schedule
Raw Materials, Beg - SM
Add: Raw Materials
Purchases Sodium
Metabisulfite

Total Raw Mat. Avail. for Use

Less: Raw Mat, End - SM

Raw Materials Used - SM

Raw Materials Purchases BP

Total Direct Materials

123 | P a g e F i n a n c i a l A s p e c t

Schedule 6
Direct Materials
2017
2018
1,62
0
9.64

2019
1,68

2020
1,753
.20

2021
1,819
.12

9.70

81,
753.75

83,13
6.77

86,26
2.72

89,506.
19

92,871
.63

81,
753.75
1,
629.64
80,
124.11
338,
020.81
418,
144.92

84,7
66.42
1,68
9.70
83,07
6.72
337,80
0.00
420,87
6.72

87,95

91,259.
40
1,819
.12
89,440.
27
337,800.
00
427,240.
27

94,690
.75
1,887
.52
92,803
.23
337,800.
00
430,603.
23

2.41
1,75
3.20
86,19
9.21
337,80
0.00
423,99
9.21

Schedule 7
Budgeted Raw Materials Purchases - Banana Peel (BP)
Schedul
2017
2018
2019
e
Kg.of peels needed to produced 1 kg of
Table 3
6.944444
6.940000
6.940000
flour
Multiply: Kg. of flour per sack
25.00
25.00
25.00
Kg. of peels to produce 1 sack of flour
173.61
173.50
173.50
Multiply: No. of Sacks of Flour produced
4,425.00
4,425.00
4,425.00
768,229.1 767,737.5 767,737.5
Kg. of Peels to produce Banana peel flour
2
0
0
Add: 10% Spoilage based on Raw
76,822.91 76,773.75 76,773.75
Material Purchases
Raw Material Purchases-Banana Peel
845,052.0 844,511.2 844,511.2
(kgs)
3
5
5
Divide: Kg in 1 sack of banana peels
25.00
25.00
25.00

124 | P a g e F i n a n c i a l A s p e c t

2020

2021

6.940000

6.940000

25.00
173.50
4,425.00
767,737.5
0

25.00
173.50
4,425.00
767,737.5
0

76,773.75

76,773.75

844,511.2
844,511.25
5
25.00
25.00

Raw Material Purchases-Banana Peel (in

sacks)
Multiply: Price per sack of peels
Raw Material Purchases-banana peels
(pesos)

33,802.08

33,780.00

33,780.00

33,780.00

33,780.00

10.00
338,020.8
1

10.00
337,800.0
0

10.00
337,800.0
0

10.00
337,800.0
0

10.00
337,800.0
0

Schedule 8
Budgeted Raw Materials Purchases - Sodium Metabisulfite
Schedule
2017
2018
2019
Kg of Sodium Metabisulfite used in
4.68
4.68
4.68
production per day
Multiply: No. of business days in a year
295.00
295.00
295.00
Kg of Sodium Metabisulfite used in
1,380.60
1,380.60
1,380.60
production per year
Add: Ending Inventory
28.08
28.08
28.08
Total kg of sodium metabisulfite
1,408.68
1,408.68
1,408.68
available for use
Less: Inventory, beg.
0.00
28.08
28.08

125 | P a g e F i n a n c i a l A s p e c t

2020

2021

4.68

4.68

295.00

295.00

1,380.60

1,380.60

28.08

28.08

1,408.68

1,408.68

28.08

28.08

Raw Material Purchases- Sodium

Metabisulfite(kg)
Mutiply: Price per kg of sodium
metabislufite
Raw Materials Purchases- Sodium
Metabisulfite(pesos) gross of VAT
Less: Input VAT
Raw Material Purchases- Sodium
Metabisulfite(pesos) net of VAT

1,408.68

1,380.60

1,380.60

1,380.60

1,380.60

65.00

67.44

69.98

72.61

75.34

91,564.20

93,113.19

96,614.24

100,246.94

104,016.22

9,810.45

9,976.41

10,351.53

10,740.74

11,144.60

81,753.75

83,136.77

86,262.72

89,506.19

92,871.63

Schedule 9
Computation Raw Materials Inventory-Sodium Metabisulfite
Unit Cost -Net
Units (kg)
Total Cost- Net of Vat
of VAT
2017
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory

126 | P a g e F i n a n c i a l A s p e c t

0.00
1,408.68
1,408.68
(1,380.60)
28.08

0.00
58.04
58.04
58.04
58.04

0.00
81,753.75
81,753.75
(80,124.11)
1,629.64

2018
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory

2019
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory

2020
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory

127 | P a g e F i n a n c i a l A s p e c t

Units (kg)

Unit Cost -Net

of VAT

Total Cost- Net of Vat

28.08
1,380.60
1,408.68
(1,380.60)
28.08

58.04
60.22
60.17
60.17
60.17

1,629.64
83,136.77
84,766.42
(83,076.72)
1,689.70

Units (kg)

Unit Cost -Net

of VAT

Total Cost- Net of Vat

28.08
1,380.60
1408.68
(1,380.60)
28.08

60.17
62.48
62.44
62.44
62.44

1,689.70
86,262.72
87,952.41
(86,199.21)
1,753.20

Units (kg)

Unit Cost -Net

of VAT

Total Cost- Net of Vat

28.08
1,380.60
1408.68
(1,380.60)
28.08

62.44
64.83
64.78
64.78
64.78

1,753.20
89,506.19
91,259.40
(89,440.27)
1,819.12

2021
Beginning Inventory
Goods Manufactured
Total
Goods Sold
Ending Inventory

Schedule
Annual Salary-Production
Personnel
Add: Production
Personnel's
SSS Employer's
Contribution

11

16

128 | P a g e F i n a n c i a l A s p e c t

Units (kg)

Unit Cost -Net

of VAT

Total Cost- Net of Vat

28.08
1,380.60
1408.68
(1,380.60)
28.08

64.78
67.27
67.22
67.22
67.22

1,819.12
92,871.63
94,690.75
(92,803.23)
1,887.52

Schedule 10
Direct Labor
2017
2018
826,00
857,05
0.00
7.60
60,11
5.20

63,64
8.00

2019
889,2
82.97

2020
922,720.0
1

2021
957,41
4.28

67,1

67,180.8
0

70,72
3.20

80.80

Philhealth Employer's
Contribution
Pag-ibig Employer's
Contribution
13th Month Pay

17
18
19

Total Direct Labor

Schedule
No. of Working Days in
a Year
Multiply: Rate per day
Annual Salary
Multiply: No. of
Personnel
Total Salary

9,60
0.00
9,60
0.00
68,83
3.33
974,148.53

9,60
0.00

10,8
00.00

9,60
0.00
71,42
1.47
1,011,327.07

9,6
00.00
74,1
06.91
1,050,970.68

Schedule 11
Annual Salary-Production Personnel
2017
2018
2019
295
350
103,250
.00

295
363.16
107,132
.20

295
376.81
111,160
.37

10,800.0
0
9,600.
00
76,893.3
3
1,087,194.14

10,80
0.00
9,60
0.00
79,78
4.52
1,128,322.00

2020

2021

295

295

390.98
115,340.
00

405.68
119,676.
78

826,000.00

857,057.60

889,282.97

922,720.01

957,414.28

129 | P a g e F i n a n c i a l A s p e c t