0 - Chapter 6

CREAMY TREATS
Ice Cream Shop

One Mall Valenzuela 2nd floor
Barangay Gen T. De Leon, Valenzuela City
creamytreats@gmail.com
0917-335-4489
CHAPTER 6
TECHNICAL AND
FINANCIAL ASPECT:
COSTING AND PROJECTIONS
“A TREAT IN EVERY SCOOP”

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6.1 COSTING
6.1.1 PRODUCT COSTING
Signature Creations
Product RM DL FOH applied Cost per Unit
Banana Split
30.71 7.11 2.133 39.953
Overload
Pinoy Waffle
25.24 7.11 2.133 34.483
Suzette
Turon de Crema 31.58 7.11 2.133 40.823
Churros Ice
26.44 7.11 2.133 35.683
Cream
Cookie Vanilla Ice

29.04 7.11 2.133 38.283
Cream
Product Costing per Ice Cream Cup Serving
Exclusive Treats Flavors

total
Cost Cost cost Cost
FOH cost of
Product RM DL per per per per
applied ice
liter scoop cup serving
cream
Halo
Halo 47.09 20.48 6.14 73.71 3.07 4.00 15.36 19.36
Deluxe

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Avocado 46.61 20.48 6.14 73.23 3.05 4.00 15.26 19.26

Buko
48.98 20.48 6.14 75.60 3.15 4.00 15.75 19.75
Pandan
Mango
52.11 20.48 6.14 78.73 3.28 4.00 16.40 20.40
Graham
Fruity
53.23 20.48 6.14 79.85 3.33 4.00 16.64 20.64
Fusion
Product Costing per Ice Cream Cone Serving

total cost
FOH Cost per Cost per cost per Cost per
Product RM DL of ice
applied liter scoop cone serving
cream
Halo
Halo 47.09 20.48 6.14 73.71 3.07 4.00 9.21 13.21
Deluxe
Avocado 46.61 20.48 6.14 73.23 3.05 4.00 9.15 13.15
Buko
48.98 20.48 6.14 75.60 3.15 4.00 9.45 13.45
Pandan
Mango
52.11 20.48 6.14 78.73 3.28 4.00 9.84 13.84
Graham
Fruity
53.23 20.48 6.14 79.85 3.33 4.00 9.98 13.98
Fusion

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Classic Flavors
Cost Cost cost total cost
FOH Cost per
Product RM DL per per per of ice
applied serving
liter scoop cup cream
Rocky Road
53.41 22.76 6.83 83.00 3.46 4.00 17.29 21.29
on the Go
Ice Ultimate
56.26 22.76 6.83 85.85 3.58 4.00 17.89 21.89
Double Dutch
Ube
46.61 22.76 6.83 76.20 3.17 4.00 15.87 19.87
Macapuno
Creamilicious
Cheesy 46.61 22.76 6.83 76.20 3.17 4.00 15.87 19.87
Cheese
Cookies and
53.71 22.76 6.83 83.30 3.47 4.00 17.35 21.35
Cream Plush
French
Saccharine 46.61 22.76 6.83 76.20 3.17 4.00 15.87 19.87
Vanilla
Cappuccino
Chocolatey 46.61 22.76 6.83 76.20 3.17 4.00 15.87 19.87
Chip
Caramel
Macchiato 46.61 22.76 6.83 76.20 3.17 4.00 15.87 19.87
Craze
Luscious
49.11 22.76 6.83 78.70 3.28 4.00 16.40 20.40
Strawberry
Mango
46.61 22.76 6.83 78.70 3.28 4.00 16.40 20.40
Maniac

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Product Costing per Ice Cream Cone Serving
Classic Flavors
Cost Cost cost total cost Cost
FOH
Product RM DL per per per of ice per
applied
liter scoop cone cream serving
Rocky Road
53.41 22.76 6.83 83.00 3.46 4.00 10.37 14.37
on the Go
Ice Ultimate
56.26 22.76 6.83 85.85 3.58 4.00 10.73 14.73
Double Dutch
Ube
46.61 22.76 6.83 76.20 3.17 4.00 9.52 13.52
Macapuno
Creamilicious
Cheesy 46.61 22.76 6.83 76.20 3.17 4.00 9.52 13.52
Cheese
Cookies and
53.71 22.76 6.83 83.30 3.47 4.00 10.41 14.41
Cream Plush
French
Saccharine 46.61 22.76 6.83 76.20 3.17 4.00 9.52 13.52
Vanilla
Cappuccino
Chocolatey 46.61 22.76 6.83 76.20 3.17 4.00 9.52 13.52
Chip
Caramel
Macchiato 46.61 22.76 6.83 76.20 3.17 4.00 9.52 13.52
Craze
Luscious
49.11 22.76 6.83 78.70 3.28 4.00 9.84 13.84
Strawberry
Mango
46.61 22.76 6.83 78.70 3.28 4.00 9.84 13.84
Maniac

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Mark-up per Ice Cream Cup Serving
Classic Flavors
total cost
Cost per Selling VAT Mark- Mark-Up
Product of ice
serving Price Output Up Rate
cream
Rocky Road on the

17.29 21.29 50 5.36 23.35 109.68%
Go
Ice Ultimate
17.89 21.89 50 5.36 22.76 103.99%
Double Dutch
Ube Macapuno 15.87 19.87 50 5.36 24.77 124.62%
Creamilicious
15.87 19.87 50 5.36 24.77 124.62%
Cheesy Cheese
Cookies and
17.35 21.35 50 5.36 23.29 109.06%
Cream Plush
French Saccharine
15.87 19.87 50 5.36 24.77 124.62%
Vanilla
Cappuccino
15.87 19.87 50 5.36 24.77 124.62%
Chocolatey Chip
Caramel
15.87 19.87 50 5.36 24.77 124.62%
Macchiato Craze
Luscious
16.40 20.40 50 5.36 24.25 118.89%
Strawberry
Mango Maniac 16.40 20.40 50 5.36 24.25 118.89%

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Mark-up per Ice Cream Cone Serving
Classic Flavors
total cost of Cost per Selling VAT Mark- Mark-Up

Product
ice cream serving Price Output Up Rate
Rocky Road on
10.37 14.37 35 3.75 16.88 117.40%
the Go
Ice Ultimate
10.73 14.73 35 3.75 16.52 112.14%
Double Dutch
Ube Macapuno 9.52 13.52 35 3.75 17.73 131.06%
Creamilicious
9.52 13.52 35 3.75 17.73 131.06%
Cheesy Cheese
Cookies and
10.41 14.41 35 3.75 16.84 116.83%
Cream Plush
French
Saccharine 9.52 13.52 35 3.75 17.73 131.06%
Vanilla
Cappuccino
9.52 13.52 35 3.75 17.73 131.06%
Chocolatey Chip
Caramel
9.52 13.52 35 3.75 17.73 131.06%
Macchiato Craze
Luscious
9.84 13.84 35 3.75 17.41 125.84%
Strawberry
Mango Maniac 9.84 13.84 35 3.75 17.41 125.84%

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Mark-up per Ice Cream Cup Serving

Product
Halo Halo
15.36 19.36 50 5.36 25.29 130.63%
Deluxe
Avocado 15.26 19.26 50 5.36 25.39 131.83%
Buko
15.75 19.75 50 5.36 24.89 126.03%
Pandan
Mango
16.40 20.40 50 5.36 24.24 118.81%
Graham
Fruity
16.64 20.64 50 5.36 24.01 116.33%
Fusion

Product
Halo Halo
9.21 13.21 35 3.75 18.04 136.49%
Deluxe
Avocado 9.15 13.15 35 3.75 18.10 137.57%
Buko
9.45 13.45 35 3.75 17.80 132.33%
Pandan
Mango
9.84 13.84 35 3.75 17.41 125.77%
Graham
Fruity
9.98 13.98 35 3.75 17.27 123.51%
Fusion

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Signature Creations
Selling Mark-Up
Product Cost per Unit VAT Output Mark- Up
Price Rate
Banana Split
39.953 95 10.18 44.87 112.30%
Overload
Pinoy Waffle
34.483 90 9.64 45.87 133.03%
Suzette
Turon de Crema 40.823 95 10.18 44.00 107.78%
Churros Ice Cream

35.683 90 9.64 44.67 125.20%
Cup
Cookie Vanilla Ice

38.283 95 10.18 46.54 121.56%
Cream
CLASSIC FLAVORS:
1. ROCKY ROAD ON THE GO
Ingredients Cost per Liter

50 grams of flavoring 5.50
1/4 cup of butter milk 7.57
1/2 cup of skimmed milk 8.87

1/4 cup of corn syrup 1.77
1 egg yolk (emulsifier) 3.00

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2/5 tsp. of agar agar (stabilizer) 0.30
5/8 cup of milk 7.39
1/2 cup of cream 11.82
1/8 cup of water 0.39
1/8 cup of marshmallow 1.48
1/8 cup of chocolate syrup 5.32
TOTAL DIRECT MATERIAL 53.41
DIRECT LABOR 22.76
FACTORY OVERHEAD (70% OF Direct labor) 6.83
TOTAL PRODUCT COST: 83.00
2. ULTIMATE DOUBLE DUTCH

2/5 tsp of agar - agar 0.30
1 pc bar chocolate chunks 3.33
10grams of nuts 1.00

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TOTAL DIRECT MATERIALS 56.26

DIRECT LABOR 22.76
FACTORY OVERHEAD (70% of direct labor) 6.83
TOTAL PRODUCTION COST : 85.85
3. UBE MACAPUNO MADNESS

1 egg yolk 3.00
Plastic Container 3.00
DIRECT LABOR 22.76
FACTORY OVERHEAD 6.83
TOTAL PRODUCT COST: 76.20

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4. CREAMILICCIOUS CHEESY CHEESE

1 egg yolk 3.00
DIRECT LABOR 22.76
TOTAL PRODUCT COST : 76.20
5. COOKIES & CREAM PLUSH

1 egg yolk 3.00

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DIRECT LABOR 22.76
TOTAL PRODUCTION COST: 83.30
6. FRENCH SACCHARINE VANILLA

2/5 tsp of agar - agar (stabilizer) 0.30
DIRECT LABOR 22.76

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7. CAPUCCINO CHOCOLATEY CHIP

DIRECT LABOR 22.76
8. CARAMEL MACCHIATO CRAZE


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DIRECT LABOR 22.76
9. MANGO MANIAC
Mango Flavor 2.50

1/2 Mango fruit 2.50
DIRECT LABOR 22.76

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10. LUSCIOUS STRAWBERRY
Strawberry Flavor 5.50

DIRECT LABOR 22.76
EXCLUSIVE TREATS FLAVOUR:
1. HALO-HALO DELUXE
Ube Flavor 5.50

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1/8 cup of jellies 0.30
1/8 cup of sago 0.30
1/8 cup of desiccated coconut 2.07
DIRECT LABOR 22.76
2. AVOCADO CREAM DELIGHT
Avocado Flavor 2.50


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DIRECT LABOR 22.76
3. ENTHUSIASTIC BUKO PANDAN
Buko Pandan Flavor 5.50

1/8 cup of desiccated coconut 2.07
DIRECT LABOR 22.76

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4. PRESTIGIOUS MANGO GRAHAM
Mango Flavor 5.50

1/2 Mango fruit 2.50
1/4 cup Crushed Graham 3.00
DIRECT LABOR 22.76
5. PLUMMY FRUITY FUSION
Cost per
Ingredients
Liter

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1/8 cup of sago 0.30
1/8 cup of mixed fruits 8.52
DIRECT LABOR 22.76
SIGNATURE CREATIONS:
1. BANANA SPLIT OVERLOAD

3 scoops of ice cream 15.42
10 grams of nuts 1.00
3 cherries 2.10
1 pc of banana split overload 2.67
1/16 cup of chocolate or strawberry syrup 2.66

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1/2 bar of grated chocolate 4.50

1/10 of whip cream 2.36
DIRECT LABOR 7.11
2. PINOY WAFFLE SUZETTE

1/16 cups of caramel syrup 2.66
2 pcs of calamansi 1.00
1 pc of waffle 2.80
1/10 whipped cream 2.36
DIRECT LABOR 7.11
3. TURON DE CREMA
Scoops of ice cream 15.42

2 bananas 2.84

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10 grams of jackfruits 2.00

2 slices of cheese 5.00
2 medium lumpia wrapper 1.00
DIRECT LABOR 7.11
4. CHURROS ICE CREAM CUPS

1/16 chocolate syrup 2.66
1/10 whipped cream 2.36
1 pc. Churros 5.00
DIRECT LABOR 7.11
5. COOKIE VANILLA ICE CREAM

1/16 cups of chocolate syrup 2.66
1 cherry 2.00

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2 pc of cookies 5.60
1/16 cups of whip cream 1.48
DIRECT LABOR 7.11
6.1.2 TECHNICAL ASPECT

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Most of the store space is allotted to accommodate as much customers as possible.
The store has a separate waiting area placed in front of the entrance to minimize foot
traffic. Past the waiting area is the dining area which is the most important part of the
store. The dining area composes 70% of the total area and the kitchen and preparation
area take up to 15%. The dining area provides twenty seats for the customers. It has three
tables which can sit four persons and one long table which can sit 8 persons. The counter
is set in front of the dining area and a space for a restroom is also designated. The
kitchen floor plan includes space for inventory, preparation, cooking, dishes, equipment,
and closet. Beside the kitchen are the area for the staff and the space allotted for the
manager’s area.
6.1.3 OTHER COSTING
Organizational Cost
SEC REGISTRATION
Stock transfer book P 320.00
Articles of Corporation 1,150.00
SEC Bulletin 500.00
Legal Research Fee 129.66
Filing Fee 1,805.61
BIR REGISTRATION
Annual Registration Fee 500.00
Certification Fee 600.00

Documentary Stamp Tax 15.00

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Special Book of Accounts 400.00

CITY REGISTRATION
Annual Building inspection Fee 380.50
Annual Electrical Inspection Fee 325.00
Annual Signboard inspection fee 36.00
Business Plate Fee 350.00
Locational Clearance Fee 450.00
Fire Inspection Fee 336.00
Sanitary Inspection Fee 400.00
Zoning fee 350.00
Business Tax 600.00
Mayor's Permit 600.00
Garbage Fee 600.00
Total Organizational Cost P 9,847.77
6.1.4 TOTAL PROJECT COST
Pre Operating Cost

Launch Plan 14,660.00
Staffing Cost 25,000.00
Administrative supplies 3,224.00

Utilities supplies 19,953.00
Advertising Expense 27,266.00
Permits and licenses 3,979.38
Organizational Cost 9,487.77

Store Equipment 228,185.00
Administrative Equipment 54,000.00

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Store Tools 40,122.00
Furniture and Fixtures Store 47,500.00
Administrative Furniture and Fixtures 25,937.00

Inventory (For 1 month) 125,016.69
Renovation Cost 150,000.00
TOTAL PRE OPERATING COST P774,330.84
6.2 FINANCIAL PROJECTIONS
6.2.1 Financial Assumptions
1. Increase in sales, purchases and cost of sales are based on the growth rate of Barangay
Gen. T De Leon which is 2%
2. Inflation rate is 5%
3. Withholding taxes on rent is 5%
4. All purchases of supplies, equipment, and furniture and fixtures are VAT exclusive
5. All purchases of inventory are VAT inclusive
6. All sales are VAT inclusive
7. Procurement of fresh ingredients are bought every other day
8. Procurement of other ingredients are bought on a monthly basis
9. 3% ending inventory left at the end of the year

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10. Rent expense will be allocated as follows: - Eighty five percent (85%) to Operations,
and - Fifteen percent (15%) to General and Administrative
11. Depreciation expense will be allocated as follows: - Eighty five percent (85%) to
Operations, and - Fifteen percent (15%) to General and Administrative
12. Leasehold improvements are depreciated based on the effectivity of the contract which
is 5 years

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STATEMENT OF FINANCIAL PERFORMANCE

CREAMY TREATS
STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEARS ENDED March 31,2020,2021,2022,2023,2024
2020 2021 2022 2023 2024

Sales 1 PHP 4,675,632.78 PHP 5,007,602.70 PHP 5,363,142.49 PHP 5,743,925.61 PHP 6,151,744.33
Cost of Sales 2 (1,899,731.35) (2,224,317.82) (2,380,988.55) (2,539,507.20) (2,708,193.03)
Gross Profit 2,775,901.43 2,783,284.89 2,982,153.94 3,204,418.41 3,443,551.30
Operating Expenses
Selling Expenses
Salaries Expense 4 Php (604,800.00) Php (635,040.00) Php (666,792.00) Php (700,131.60) Php (735,138.18)
Employee Benefits Expense 5 Php (65,203.20) Php (68,424.80) Php (71,747.20) Php (75,425.96) Php (79,351.02)
Advertising Expense 6 (58,067.00) Php (60,970.35) Php (64,018.87) Php (67,219.81) Php (70,580.80)
Rent Expense (85% of the leased place) 7 (377,400.00) Php (396,270.00) Php (416,083.50) Php (436,887.68) Php (458,732.06)
Utilities Expense 8 (71,400.00) Php (74,970.00) Php (78,718.50) Php (82,654.43) Php (86,787.15)
Supplies Expense 9 (36,351.00) Php (38,168.55) Php (40,076.98) Php (42,080.83) Php (44,184.87)
Depreciation Expense 10 (54,507.10) (54,507.10) (54,507.10) (54,507.10) (54,507.10)
Store Tools Expense 11 (48,397.44) - (53,237.18) - (58,076.93)
Total (1,316,125.74) (1,328,350.80) (1,445,181.33) (1,458,907.40) (1,587,358.10)
Administrative Expenses
Retainer's Fee 3 Php (65,000.00) Php (68,250.00) Php (71,662.50) Php (75,245.63) Php (79,007.91)
Salaries Expense 4 (542,400.00) (569,520.00) (597,996.00) (627,895.80) (659,290.59)
Employee Benefits Expense 5 (50,319.70) (52,920.40) (55,681.90) (58,486.98) (60,839.26)
Rent Expense (15* of the leased place) 7 (66,600.00) (69,930.00) (73,426.50) (77,097.83) (80,952.72)
Utilities Expense 8 (12,600.00) (13,230.00) (13,891.50) (14,586.08) (15,315.38)
Supplies Expense 9 (7,221.76) (7,582.85) (7,961.99) (8,360.09) (8,778.09)
Permits and Licenses 12 (15,917.52) (16,713.40) (17,549.07) (18,426.52) (19,347.85)
Organizational Cost 13 (9,847.77) - - - -
Leasehold Improvement Dep (30,000.00) (30,000.00) (30,000.00) (30,000.00) (30,000.00)
Total Php (799,906.75) Php (828,146.64) Php (868,169.46) Php (910,098.91) Php (953,531.79)
Total Operating Expenses Php (2,116,032.49) Php (2,156,497.44) Php (2,313,350.79) Php (2,369,006.31) Php (2,540,889.89)
Net Income Php 659,868.94 Php 626,787.44 Php 668,803.16 Php 835,412.10 Php 902,661.41

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STATEMENT OF FINANCIAL POSITION
CREAMY TREATS
STATEMENT OF FINANCIAL POSITION
AS OF THE YEARS ENDED, March 31,2020,2021,2022,2023,2024
NOTE 2020 2021 2022 2023 2024
ASSETS P
Current Assets
Cash 1 1,086,064.34 1,245,981.78 1,413,412.30 1,589,722.63 1,482,354.41
Inventories 2 104,504.70 120,926.86 129,743.89 138,636.93 148,111.23
Tools 3 40,122.00 42,128.10 44,234.51 46,446.23 48,768.54
Supplies 4 22,977.00 24,125.85 25,332.14 26,598.75 27,928.69
Total Current Assets 1,253,668.04 1,433,162.58 1,612,722.84 1,801,404.54 1,707,162.87
Non-Current Assets
Equipment 5 214,867.30 184,993.60 148,319.90 120,446.20 170,518.50
Furniture & Fixtures 6 71,333.60 53,500.20 35,666.80 17,833.40 73,604.80
Leasehold
7 120,000.00 90,000.00 60,000.00 30,000.00 0.00
Improvement
Total Non-Current
406,200.90 328,493.80 243,986.70 168,279.60 244,123.30
Assets
TOTAL ASSETS 1,659,868.94 1,761,656.38 1,856,709.54 1,969,684.14 1,951,286.17
LIABILITIES AND EQUITY

Current Liabilities
Trade & Other Payables 8 500,000.00 525,000.00 551,250.00 578,812.50 607,753.13
Total Current Liabilities 500,000.00 525,000.00 551,250.00 578,812.50 607,753.13
Partners' Equity
Balido, Capital 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Caligagan, Capital 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Delina, Capital 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Granolin, Capital 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Lopez, Capital 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Russel, Capital 125,579.03 137,865.02 148,873.53 162,539.46 154,965.29
Vicente, Capital 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Total Partners' Capital 1,159,868.94 1,236,656.38 1,305,459.54 1,390,871.64 1,343,533.04
TOTAL LIABILITIES AND

1,659,868.94 1,761,656.38 1,856,709.54 1,969,684.14 1,951,286.17
EQUITY

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STATEMENT OF CHANGES IN EQUITIES
CREAMY TREATS
STATEMENT OF CHANGES IN EQUITIES
FOR THE YEARS ENDED, March 31,2020,2021,2022,2023,2024
2019 2020 2021 2022 2023

Balido, Capital
Beginning Balance: P 150,000.00 172,381.65 183,131.89 192,764.34 204,722.03
Add: Share in Income 92,381.65 87,750.24 93,632.44 116,957.69 126,372.60
Less: Withdrawal (70,000.00) (77,000.00) (84,000.00) (105,000.00) (133,000.00)
Ending Balance: 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Caligagan, Capital
Less: Withdrawal (70,000.00) (77,000.00) (84,000.00) (105,000.00) (133,000.00)
Ending Balance: 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Delina, Capital
Less: Withdrawal (70,000.00) (77,000.00) (84,000.00) (105,000.00) (133,000.00)
Ending Balance: 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Granolin, Capital
Less: Withdrawal (70,000.00) (77,000.00) (84,000.00) (105,000.00) (133,000.00)
Ending Balance: 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Lopez, Capital
Less: Withdrawal (70,000.00) (77,000.00) (84,000.00) (105,000.00) (133,000.00)
Ending Balance: 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
Russel, Capital
Less: Withdrawal (80,000.00) (88,000.00) (96,000.00) (120,000.00) (152,000.00)
Ending Balance: 125,579.03 137,865.02 148,873.53 162,539.46 154,965.29
Vicente, Capital
Less: Withdrawal (70,000.00) (77,000.00) (84,000.00) (105,000.00) (133,000.00)
Ending Balance: 172,381.65 183,131.89 192,764.34 204,722.03 198,094.63
TOTAL PARTNERS' EQUITY 1,159,868.94 1,236,656.38 1,305,459.54 1,390,871.64 1,343,533.04

175
CREAMY TREATS
Ice Cream Shop
0917-335-4489
STATEMENT OF CASH FLOWS
CREAMY TREATS
Statement of Cash Flow
For the Year Ended, March 31, 2019, 2020, 2021, 2022, 2023
2019 2020 2021 2022 2023
Operating Activities
Net Income/Loss 659,868.94 626,787.44 668,803.16 835,412.10 902,661.41
Depreciation 84,507.10 84,507.10 84,507.10 84,507.10 84,507.10
(Increase)/Decrease in Inventory (104,504.70) (16,422.16) (8,817.04) (8,893.04) (9,474.30)
(Increase)/Decrease in Tools (40,122.00) (2,006.10) (2,106.41) (2,211.73) (2,322.31)
(Increase)/Decrease in Supplies (22,977.00) (1,148.85) (1,206.29) (1,266.61) (1,330.74)
Increase/(Decrease) in Trade and Other Payables 500,000.00 25,000.00 26,250.00 27,562.50 28,940.63
Total Cash Generated in Operating Activities 1,076,772.34 716,717.43 767,430.53 935,110.33 1,002,981.78
Investing Activities
(Increase)/Decrease in Equipment (251,541.00) (6,800.00) (8,800.00)
(Increase)/Decrease in Furniture (89,167.00) - (160,350.00)
(Increase)/ Decrease in Leasehold Improvement (150,000.00) -
Total Cash Paid in Investing Activities (490,708.00) (6,800.00) (8,800.00) (160,350.00)
Financing Activities
Increase/(Decrease) in Capital (500,000.00) (550,000.00) (600,000.00) (750,000.00) (950,000.00)
Total Cash Generated in Financing Activities (500,000.00) (550,000.00) (600,000.00) (750,000.00) (950,000.00)
Total Cash Inflow/Outflow 86,064.34 159,917.43 167,430.53 176,310.33 (107,368.22)

Beginning Cash 1,000,000.00 1,086,064.34 1,245,981.78 1,413,412.30 1,589,722.63
Total Cash Flow 1,086,064.34 1,245,981.78 1,413,412.30 1,589,722.63 1,482,354.41

176
CREAMY TREATS
Ice Cream Shop
0917-335-4489
NOTES TO FINANCIAL STATEMENTS
Notes to Financial Statements for Statement of Financial Performance
1. Net Sales
- This account is consist of:
2020 2021 2022 2023 2024
Annual Sales per Cone- Classic Flavor P 606,690.00 649,764.99 695,898.30 745,307.08 798,223.89
Annual Sales per Cone- Exclusive Flavor 152,810.04 163,659.56 175,279.39 187,724.22 201,052.64
Annual Sales per Cup- Classic Flavor 1,950,075.00 2,088,530.33 2,236,815.98 2,395,629.91 2,565,719.64
Annual Sales per Cup- Exclusive Flavor 485,893.69 520,392.14 557,339.98 596,911.12 639,291.81
Annual Sales of Exclusive Treats 1,480,164.04 1,585,255.69 1,697,808.85 1,818,353.27 1,947,456.36
Total Sales P 4,675,632.78 5,007,602.70 5,363,142.49 5,743,925.61 6,151,744.33
2. Cost of Sales
2020 2021 2022 2023 2024

Beginning Inventory P 0 58,754.58 68,793.33 73,638.82 78,541.46
Raw Materials, beginning 0 45,750.12 52,133.52 56,105.07 60,095.47
Add: Purchases 1,525,004.04 1,633,279.33 1,749,242.16 1,873,438.36 2,006,452.48
Total Materials Available for Use 1,525,004.04 1,737,784.03 1,870,169.02 2,003,182.25 2,145,089.41
Raw Materials, end (45,750.12) (52,133.52) (56,105.07) (60,095.47) (64,352.68)
Direct Material Used 1,479,253.92 1,789,917.55 1,926,274.09 2,063,277.72 2,209,442.09
Direct Labor 368,640.00 387,072.00 406,425.60 426,746.88 448,084.22
Factory Overhead 110,592.00 116,121.60 121,927.68 128,024.06 134,425.27
Total Manufacturing Cost 1,958,485.92 2,293,111.15 2,454,627.37 2,618,048.66 2,791,951.58
Ending Inventory (58,754.58) (68,793.33) (73,638.82) (78,541.46) (83,758.55)
Cost of Sales P 1,899,731.35 2,224,317.82 2,380,988.55 2,539,507.20 2,708,193.03

177
CREAMY TREATS
Ice Cream Shop
0917-335-4489
3. Retainer’s Fee
2020 2021 2022 2023 2024

Monthly Bookkeeping: 4000 48,000.00 50,400.00 52,920.00 55,566.00 58,344.30
FS Fee 7,000.00 7,350.00 7,717.50 8,103.38 8,508.54
Audit Fee 10,000.00 10,500.00 11,025.00 11,576.25 12,155.06
Total : 65,000.00 68,250.00 71,662.50 75,245.63 79,007.91
4. Salaries Expense
2020
Mandatory Benefits - Employee's Share

Employee Monthly Salary Taxable Income Withholding Tax Net Pay
SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 12,600.00 454.20 150.00 100.00 704.20 11,895.80 - 11,895.80
Crew 2 12,600.00 454.20 150.00 100.00 704.20 11,895.80 - 11,895.80
Crew 3 12,600.00 454.20 150.00 100.00 704.20 11,895.80 - 11,895.80
Crew 4 12,600.00 454.20 150.00 100.00 704.20 11,895.80 - 11,895.80
TOTAL 50,400.00 1,816.80 600.00 400.00 2,816.80 47,583.20 - 47,583.20
ANNUAL SALARY 604,800.00 21,801.60 7,200.00 4,800.00 33,801.60 570,998.40 - 570,998.40
General and Administrative

Store Manager 20,000.00 581.30 250.00 100.00 931.30 19,068.70 - 19,068.70
Cashier 1 12,600.00 454.20 150.00 100.00 704.20 11,895.80 - 11,895.80
Cashier 2 12,600.00 454.20 150.00 100.00 704.20 11,895.80 - 11,895.80
TOTAL 45,200.00 1,489.70 550.00 300.00 2,339.70 42,860.30 - 42,860.30
ANNUAL SALARY 542,400.00 17,876.40 6,600.00 3,600.00 28,076.40 514,323.60 - 514,323.60
GRAND TOTAL 1,147,200.00 3,760.70 1,300.00 800.00 5,860.70 102,339.30 - 102,339.30

178
CREAMY TREATS
Ice Cream Shop
0917-335-4489
2021

SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 13,230.00 472.30 162.50 100.00 734.80 12,495.20 - 12,495.20
Crew 2 13,230.00 472.30 162.50 100.00 734.80 12,495.20 - 12,495.20
Crew 3 13,230.00 472.30 162.50 100.00 734.80 12,495.20 - 12,495.20
Crew 4 13,230.00 472.30 162.50 100.00 734.80 12,495.20 - 12,495.20
TOTAL 52,920.00 1,889.20 650.00 400.00 2,939.20 49,980.80 - 49,980.80
ANNUAL SALARY 635,040.00 22,670.40 7,800.00 4,800.00 35,270.40 599,769.60 - 599,769.60

Store Manager 21,000.00 581.30 262.50 100.00 943.80 20,056.20 - 20,056.20
Cashier 1 13,230.00 472.30 162.50 100.00 734.80 12,495.20 - 12,495.20
Cashier 2 13,230.00 472.30 162.50 100.00 734.80 12,495.20 - 12,495.20
TOTAL 47,460.00 1,525.90 587.50 300.00 2,413.40 45,046.60 - 45,046.60
ANNUAL SALARY 569,520.00 18,310.80 7,050.00 3,600.00 28,960.80 540,559.20 - 540,559.20
GRAND TOTAL 1,204,560.00 3,887.40 1,400.00 800.00 6,087.40 107,522.60 - 107,522.60
2022

SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 13,891.50 508.70 162.50 100.00 771.20 13,120.30 - 13,120.30
Crew 2 13,891.50 508.70 162.50 100.00 771.20 13,120.30 - 13,120.30
Crew 3 13,891.50 508.70 162.50 100.00 771.20 13,120.30 - 13,120.30
Crew 4 13,891.50 508.70 162.50 100.00 771.20 13,120.30 - 13,120.30
TOTAL 55,566.00 2,034.80 650.00 400.00 3,084.80 52,481.20 - 52,481.20
ANNUAL SALARY 666,792.00 24,417.60 7,800.00 4,800.00 37,017.60 629,774.40 - 629,774.40

Store Manager 22,050.00 581.30 275.00 100.00 956.30 21,093.70 - 21,093.70
Cashier 1 13,891.50 508.70 162.50 100.00 771.20 13,120.30 - 13,120.30
Cashier 2 13,891.50 508.70 162.50 100.00 771.20 13,120.30 - 13,120.30
TOTAL 49,833.00 1,598.70 600.00 300.00 2,498.70 47,334.30 - 47,334.30
ANNUAL SALARY 597,996.00 19,184.40 7,200.00 3,600.00 29,984.40 568,011.60 - 568,011.60
GRAND TOTAL 1,264,788.00 4,142.20 1,412.50 800.00 6,354.70 112,935.80 - 112,935.80

179
CREAMY TREATS
Ice Cream Shop
0917-335-4489
2023

SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 14,586.08 526.80 175.00 100.00 801.80 13,784.28 - 13,784.28
Crew 2 14,586.08 526.80 175.00 100.00 801.80 13,784.28 - 13,784.28
Crew 3 14,586.08 526.80 175.00 100.00 801.80 13,784.28 - 13,784.28
Crew 4 14,586.08 526.80 175.00 100.00 801.80 13,784.28 - 13,784.28
TOTAL 58,344.30 2,107.20 700.00 400.00 3,207.20 55,137.10 - 55,137.10
ANNUAL SALARY 700,131.60 25,286.40 8,400.00 4,800.00 38,486.40 661,645.20 - 661,645.20

Store Manager 23,152.50 581.30 287.50 100.00 968.80 22,183.70 - 22,183.70
Cashier 1 14,586.08 526.80 175.00 100.00 801.80 13,784.28 - 13,784.28
Cashier 2 14,586.08 526.80 175.00 100.00 801.80 13,784.28 - 13,784.28
TOTAL 52,324.65 1,634.90 637.50 300.00 2,572.40 49,752.25 - 49,752.25
ANNUAL SALARY 627,895.80 19,618.80 7,650.00 3,600.00 30,868.80 597,027.00 - 597,027.00
GRAND TOTAL 1,328,027.40 4,268.90 1,512.50 800.00 6,581.40 118,673.63 - 118,673.63
2024

SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 15,315.38 563.50 187.50 100.00 851.00 14,464.38 - 14,464.38
Crew 2 15,315.38 563.50 187.50 100.00 851.00 14,464.38 - 14,464.38
Crew 3 15,315.38 563.50 187.50 100.00 851.00 14,464.38 - 14,464.38
Crew 4 15,315.38 563.50 187.50 100.00 851.00 14,464.38 - 14,464.38
TOTAL 61,261.52 2,254.00 750.00 400.00 3,404.00 57,857.52 - 57,857.52
ANNUAL SALARY 735,138.18 27,048.00 9,000.00 4,800.00 40,848.00 694,290.18 - 694,290.18

Store Manager 24,310.13 581.30 300.00 100.00 981.30 23,328.83 - 23,328.83
Cashier 1 15,315.38 563.50 187.50 100.00 851.00 14,464.38 - 14,464.38
Cashier 2 15,315.38 563.50 750.00 100.00 1,413.50 13,901.88 - 13,901.88
TOTAL 54,940.88 1,708.30 1,237.50 300.00 3,245.80 51,695.08 - 51,695.08
ANNUAL SALARY 659,290.59 20,499.60 14,850.00 3,600.00 38,949.60 620,340.99 - 620,340.99
GRAND TOTAL 1,394,428.77 4,525.80 2,175.00 800.00 7,500.80 124,016.98 - 124,016.98

180
CREAMY TREATS
Ice Cream Shop
0917-335-4489
5. Employee Benefits
2020
Mandatory Benefits - Employer's Share

Employee 13th month pay Total Amount Bonus Net Pay
SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 12,600.00 930.80 150.00 100.00 1,180.80 13,780.80 2,520.00 16,300.80
Crew 2 12,600.00 930.80 150.00 100.00 1,180.80 13,780.80 2,520.00 16,300.80
Crew 3 12,600.00 930.80 150.00 100.00 1,180.80 13,780.80 2,520.00 16,300.80
Crew 4 12,600.00 930.80 150.00 100.00 1,180.80 13,780.80 2,520.00 16,300.80
TOTAL 50,400.00 3,723.20 600.00 400.00 4,723.20 55,123.20 10,080.00 65,203.20

Store Manager 20,000.00 1,208.70 250.00 100.00 1,558.70 18,441.30 4,000.00 22,441.30
Cashier 1 12,600.00 930.80 150.00 100.00 1,180.80 11,419.20 2,520.00 13,939.20
Cashier 2 12,600.00 930.80 150.00 100.00 1,180.80 11,419.20 2,520.00 13,939.20
TOTAL 45,200.00 3,070.30 550.00 300.00 3,920.30 41,279.70 9,040.00 50,319.70
GRAND TOTAL 95,600.00 6,793.50 1,150.00 700.00 8,643.50 96,402.90 19,120.00 115,522.90
2021

SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 13,230.00 967.70 162.50 100.00 1,230.20 14,460.20 2,646.00 17,106.20
Crew 2 13,230.00 967.70 162.50 100.00 1,230.20 14,460.20 2,646.00 17,106.20
Crew 3 13,230.00 967.70 162.50 100.00 1,230.20 14,460.20 2,646.00 17,106.20
Crew 4 13,230.00 967.70 162.50 100.00 1,230.20 14,460.20 2,646.00 17,106.20
TOTAL 52,920.00 3,870.80 650.00 400.00 4,920.80 57,840.80 10,584.00 68,424.80

Store Manager 21,000.00 1,208.70 262.50 100.00 1,571.20 19,428.80 4,200.00 23,628.80
Cashier 1 13,230.00 967.70 162.50 100.00 1,230.20 11,999.80 2,646.00 14,645.80
Cashier 2 13,230.00 967.70 162.50 100.00 1,230.20 11,999.80 2,646.00 14,645.80
TOTAL 47,460.00 3,144.10 587.50 300.00 4,031.60 43,428.40 9,492.00 52,920.40
GRAND TOTAL 100,380.00 7,014.90 1,237.50 700.00 8,952.40 101,269.20 20,076.00 121,345.20

181
CREAMY TREATS
Ice Cream Shop
0917-335-4489
2022

SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 13,891.50 1,004.50 162.50 100.00 1,267.00 15,158.50 2,778.30 17,936.80
Crew 2 13,891.50 1,004.50 162.50 100.00 1,267.00 15,158.50 2,778.30 17,936.80
Crew 3 13,891.50 1,004.50 162.50 100.00 1,267.00 15,158.50 2,778.30 17,936.80
Crew 4 13,891.50 1,004.50 162.50 100.00 1,267.00 15,158.50 2,778.30 17,936.80
TOTAL 55,566.00 4,018.00 650.00 400.00 5,068.00 60,634.00 11,113.20 71,747.20

Store Manager 22,050.00 1,208.70 275.00 100.00 1,583.70 20,466.30 4,410.00 24,876.30
Cashier 1 13,891.50 1,004.50 162.50 100.00 1,267.00 12,624.50 2,778.30 15,402.80
Cashier 2 13,891.50 1,004.50 162.50 100.00 1,267.00 12,624.50 2,778.30 15,402.80
TOTAL 49,833.00 3,217.70 600.00 300.00 4,117.70 45,715.30 9,966.60 55,681.90
GRAND TOTAL 105,399.00 7,235.70 1,250.00 700.00 9,185.70 106,349.30 21,079.80 127,429.10
2023

SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 14,586.08 1,078.20 175.00 100.00 1,353.20 15,939.28 2,917.22 18,856.49
Crew 2 14,586.08 1,078.20 175.00 100.00 1,353.20 15,939.28 2,917.22 18,856.49
Crew 3 14,586.08 1,078.20 175.00 100.00 1,353.20 15,939.28 2,917.22 18,856.49
Crew 4 14,586.08 1,078.20 175.00 100.00 1,353.20 15,939.28 2,917.22 18,856.49
TOTAL 58,344.30 4,312.80 700.00 400.00 5,412.80 63,757.10 11,668.86 75,425.96

Store Manager 23,152.50 1,208.70 287.50 100.00 1,596.20 21,556.30 4,630.50 26,186.80
Cashier 1 14,586.08 1,078.20 175.00 100.00 1,353.20 13,232.88 2,917.22 16,150.09
Cashier 2 14,586.08 1,078.20 175.00 100.00 1,353.20 13,232.88 2,917.22 16,150.09
TOTAL 52,324.65 3,365.10 637.50 300.00 4,302.60 48,022.05 10,464.93 58,486.98
GRAND TOTAL 110,668.95 7,677.90 1,337.50 700.00 9,715.40 111,779.15 22,133.79 133,912.94

182
CREAMY TREATS
Ice Cream Shop
0917-335-4489
2024

SSS PHIC HDMF TOTAL
Selling Expense
Crew 1 15,315.38 1,171.80 187.50 100.00 1,459.30 16,774.68 3,063.08 19,837.75
Crew 2 15,315.38 1,171.80 187.50 100.00 1,459.30 16,774.68 3,063.08 19,837.75
Crew 3 15,315.38 1,171.80 187.50 100.00 1,459.30 16,774.68 3,063.08 19,837.75
Crew 4 15,315.38 1,171.80 187.50 100.00 1,459.30 16,774.68 3,063.08 19,837.75
TOTAL 61,261.52 4,687.20 750.00 400.00 5,837.20 67,098.72 12,252.30 79,351.02

Store Manager 24,310.13 1,208.70 300.00 100.00 1,608.70 22,701.43 4,862.03 27,563.45
Cashier 1 15,315.38 1,171.80 187.50 100.00 1,459.30 13,856.08 3,063.08 16,919.15
Cashier 2 15,315.38 1,171.80 750.00 100.00 2,021.80 13,293.58 3,063.08 16,356.65
TOTAL 54,940.88 3,552.30 1,237.50 300.00 5,089.80 49,851.08 10,988.18 60,839.26
GRAND TOTAL 116,202.40 8,239.50 1,987.50 700.00 10,927.00 116,949.80 23,240.48 140,190.28
6. Advertising Expense
2020 2021 2022 2023 2024

Souvenirs 13,541.00 14,218.05 14,928.95 15,675.40 16,459.17
Flyers (2000 pcs x P1.00) P 2,000.00 2,100.00 2,205.00 2,315.25 2,431.01

Coupons (1200 pcs x P1.00) 1,200.00 1,260.00 1,323.00 1,389.15 1,458.61
Posters 700.00 735.00 771.75 810.34 850.85
Banner Ads (4pcs x P375.00) 1,500.00 1,575.00 1,653.75 1,736.44 1,823.26
Lights and Sounds Rental 2,900.00 3,045.00 3,197.25 3,357.11 3,524.97
Expenses for launch plan 14,660.00 15,393.00 16,162.65 16,970.78 17,819.32
Balloons (811 pcs x P 6.00) 4,866.00 5,109.30 5,364.77 5,633.00 5,914.65

Light and Sounds Rental 5,500.00 5,775.00 6,063.75 6,366.94 6,685.28
Banner Ads (5 pcs x 240) 3,200.00 3,360.00 3,528.00 3,704.40 3,889.62
Free Ice cream dessert for the first 200 customers (@cost) 8,000.00 8,400.00 8,820.00 9,261.00 9,724.05
Total Advertising Expense P 58,067.00 60,970.35 64,018.87 67,219.81 70,580.80

183
CREAMY TREATS
Ice Cream Shop
0917-335-4489
7. Rent Expense
2020 2021 2022 2023 2024

Monthly Rental: P 37, 000
Portion Allocated to Store: 85% P 377,400.00 396,270.00 416,083.50 436,887.68 458,732.06
Portion Allocated to Admin: 15% 66,600.00 69,930.00 73,426.50 77,097.83 80,952.72
Total P 444,000.00 466,200.00 489,510.00 513,985.50 539,684.78
8. Utilities Expense
This account is consists of:
2020 2021 2022 2023 2024

Monthly Communication Expense: P 2000
Monthly Electricity Expense: P 5000
Portion Allocated to Store: 85% 71,400.00 74,970.00 78,718.50 82,654.43 86,787.15
Portion Allocated to Admin: 15% 12,600.00 13,230.00 13,891.50 14,586.08 15,315.38
Total P 84,000.00 88,200.00 92,610.00 97,240.50 102,102.53

184
CREAMY TREATS
Ice Cream Shop
0917-335-4489
9. Supplies Expense
2020 2021 2022 2023 2024

Selling Expense:
Dishwashing Liquid (125 x 12 mos.) P 1,500.00 1,575.00 1,653.75 1,736.44 1,823.26
Sponge (36 x 12 mos.) 432.00 453.60 476.28 500.09 525.10
Facial tissue (20.75 x 12 mos.) 249.00 261.45 274.52 288.25 302.66
Facial Mask (10 x 12 mos.) 120.00 126.00 132.30 138.92 145.86
Fabric Softener (85 x 12 mos.) 1,020.00 1,071.00 1,124.55 1,180.78 1,239.82
Hairnet (17 x 12 mos.) 204.00 214.20 224.91 236.16 247.96
Apron (1435 x 12 mos.) 17,220.00 18,081.00 18,985.05 19,934.30 20,931.02
Rubbing Alcohol (65.5 x 12 mos.) 786.00 825.30 866.57 909.89 955.39
Hand Sanitizer (550 x 12 mos.) 6,600.00 6,930.00 7,276.50 7,640.33 8,022.34
Detergent Powder (60 x 12 mos.) 720.00 756.00 793.80 833.49 875.16
Bleach (110 x 12 mos.) 1,320.00 1,386.00 1,455.30 1,528.07 1,604.47
Garbage bag (20 x 12 mos.) 240.00 252.00 264.60 277.83 291.72
Waterbasket (495 x 12 mos) 5,940.00 6,237.00 6,548.85 6,876.29 7,220.11
Total Sellingg Expense P 36,351.00 38,168.55 40,076.98 42,080.83 44,184.87
Administration Expense:
Ballpen 1,612.80 1,693.44 1,778.11 1,867.02 1,960.37
Pencils 1,612.80 1,693.44 1,778.11 1,867.02 1,960.37
Thermal receipt 2,741.76 2,878.85 3,022.79 3,173.93 3,332.63
Ink for printer 1,254.40 1,317.12 1,382.98 1,452.12 1,524.73
Total Admin Expense: 7,221.76 7,582.85 7,961.99 8,360.09 8,778.09
Total Supplies Expense: 43,572.76 45,751.40 48,038.97 50,440.92 52,962.96
10. Depreciation Expense
2020 2021 2022 2023 2024

Total Dep for Furniture and Fixture 17,833.40 17,833.40 17,833.40 17,833.40 17,833.40
Total Dep for Equipment 36,673.70 36,673.70 36,673.70 36,673.70 36,673.70
Total Depreciation: 54,507.10 54,507.10 54,507.10 54,507.10 54,507.10

185
CREAMY TREATS
Ice Cream Shop
0917-335-4489
11. Store Supplies

STORE KITCHEN TOOLS
PRICE PER 2020 2021 2022 2023 2024
ITEM UNIT
UNIT TOTAL PRICE TOTAL PRICE TOTAL PRICE TOTAL PRICE TOTAL PRICE
Tongs 2 275.00 550.00 605.00 660.00
Scoopers 3 399.00 1,197.00 1,316.70 1,436.40
Knives 2 1,500.00 3,000.00 3,300.00 3,600.00
Small Bowl/Measuring Caps 5 200.00 1,000.00 1,100.00 1,200.00
Large Mixing Bowls 5 350.00 1,750.00 1,925.00 2,100.00
Food Storage Containers 10 450.00 4,500.00 4,950.00 5,400.00
Jars 25 165.00 4,125.00 4,537.50 4,950.00
Forks 100 20.00 2,000.00 2,200.00 2,400.00
Spoons 100 20.00 2,000.00 2,200.00 2,400.00
Glasses 100 50.00 5,000.00 5,500.00 6,000.00
Plates 100 80.00 8,000.00 8,800.00 9,600.00
Oven Mitt 5 800.00 4,000.00 4,400.00 4,800.00
Dish Rack 1 3,000.00 3,000.00 3,300.00 3,600.00
TOTAL STORE TOOLS ₱ 40,122.00 ₱ - ₱ 44,134.20 ₱ 48,146.40
BOARD GAMES
PRICE PER 2020 2021 2022 2023 2024
ITEM UNIT
UNIT TOTAL PRICE TOTAL PRICE TOTAL PRICE TOTAL PRICE TOTAL PRICE
UNO cards 3 60 180 198.00 216.00
Dix- It 3 390 1,170 1,287.00 1,404.00
Monopoly 3 60 180 198.00 216.00
Jengga 3 180 540 594.00 648.00
- -
Snakes and Ladder 3 150 450 495.00 540.00
Coup 3 190 570 627.00 684.00
Total Board Games expense 1,030 3,090 - 3,399 - 3,708
TOTAL STORE SUPPLIES ₱ 43,212.00 ₱ 47,533.20 ₱ 51,854.40
12. Permits and Licenses

2020 2021 2022 2023 2024
Retailer P 843.75 885.94 930.23 976.75 1,025.58
Occupational Tax 202.50 212.63 223.26 234.42 246.14
Mayor's Permit 1,350.00 1,417.50 1,488.38 1,562.79 1,640.93
Ecological and Waste Management Charges 337.50 354.38 372.09 390.70 410.23
Peace and Order Charges 168.75 177.19 186.05 195.35 205.12
Fire Inspection Fee- National 358.44 376.36 395.18 414.94 435.69
Sanitary Inspection Fee 540.00 567.00 595.35 625.12 656.37
Building Inspection Fee 120.00 126.00 132.30 138.92 145.86
Locational Clearance Fee 50.00 52.50 55.13 57.88 60.78
Dr. Pio Scholarship Fund 8.44 8.86 9.31 9.77 10.26
Quarterly Permits and Licenses Expenses 3,979.38 4,178.35 4,387.27 4,606.63 4,836.96
Total Permits and Licenses P 15,917.52 16,713.40 17,549.07 18,426.52 19,347.85

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13. Organization Cost
SEC REGISTRSATION
Stock transfer book P 320.00
Articles of Corporation 1,150.00
SEC Bulletin 500.00
Legal Research Fee 129.66
Filing Fee 1,805.61
BIR REGISTRATION
Annual Registration Fee 500.00
Certification Fee 600.00
Documentary Stamp Tax 15.00
Special Book of Accounts 400.00
CITY REGISTRATION
Annual Bulding inspection Fee 380.50
Annual Electrical Inspection Fee 325.00
Annual Signboard inspection fee 36.00
Business Plate Fee 350.00
Locational Clearance Fee 450.00
Fire Inspection Fee 336.00
Sanitary Inspection Fee 400.00
Zoning fee 350.00
Business Tax 600.00
Mayor's Permit 600.00
Garbage Fee 600.00
Total Organizational Cost P 4,405.27

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Notes to Financial Statements for Statement of Financial Position
1. Cash
2020 2021 2022 2023 2024

Cash in Bank 1,066,064.34 1,225,981.78 1,393,412.30 1,569,722.63 1,462,354.41
Petty Cash 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00
Total Cash 1,086,064.34 1,245,981.78 1,413,412.30 1,589,722.63 1,482,354.41
2. Inventories
2020 2021 2022 2023 2024

Raw Materials 45,750.12 52,133.52 56,105.07 60,095.47 64,352.68
Finished Goods 58,754.58 68,793.33 73,638.82 78,541.46 83,758.55
Total Ending Inventory 104,504.70 120,926.86 129,743.89 138,636.93 148,111.23
3. Tools

STORE TOOLS
2020 2021 2022 2023 2024
ITEM UNIT PRICE PER UNIT
TOTAL PRICE TOTAL PRICE TOTAL PRICE TOTAL PRICE TOTAL PRICE
Tongs 2 275.00 550.00 577.50 606.38 636.69 668.53
Scoopers 3 399.00 1,197.00 1,256.85 1,319.69 1,385.68 1,454.96
Knives 2 1,500.00 3,000.00 3,150.00 3,307.50 3,472.88 3,646.52
Small Bowl/Measuring Caps 5 200.00 1,000.00 1,050.00 1,102.50 1,157.63 1,215.51
Large Mixing Bowls 5 350.00 1,750.00 1,837.50 1,929.38 2,025.84 2,127.14
Food Storage Containers 10 450.00 4,500.00 4,725.00 4,961.25 5,209.31 5,469.78
Jars 25 165.00 4,125.00 4,331.25 4,547.81 4,775.20 5,013.96
Forks 100 20.00 2,000.00 2,100.00 2,205.00 2,315.25 2,431.01
Spoons 100 20.00 2,000.00 2,100.00 2,205.00 2,315.25 2,431.01
Glasses 100 50.00 5,000.00 5,250.00 5,512.50 5,788.13 6,077.53
Plates 100 80.00 8,000.00 8,400.00 8,820.00 9,261.00 9,724.05
Oven Mitt 5 800.00 4,000.00 4,200.00 4,410.00 4,630.50 4,862.03
Dish Rack 1 3,000.00 3,000.00 3,150.00 3,307.50 3,472.88 3,646.52
TOTAL STORE TOOLS ₱ 40,122.00 ₱ 42,128.10 ₱ 44,234.51 ₱ 46,446.23 ₱ 48,768.54

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4. Supplies
STORE SUPPLIES-SANITARY
2020 2021 2022 2023 2024
Dishwashing Liquid 25 125.00 3,125.00 3,281.25 3,445.31 3,617.58 3,798.46
Sponge 24 36.00 864.00 907.20 952.56 1,000.19 1,050.20
Tissue 20 220.00 4,400.00 4,620.00 4,851.00 5,093.55 5,348.23
Spit Guard 20 50.00 1,000.00 1,050.00 1,102.50 1,157.63 1,215.51
Hairnet 12 17.00 204.00 214.20 224.91 236.16 247.96
Apron 12 150.00 1,800.00 1,890.00 1,984.50 2,083.73 2,187.91
Rubbing Alcohol 6 80.00 480.00 504.00 529.20 555.66 583.44
Hand Sanitizer 2 550.00 1,100.00 1,155.00 1,212.75 1,273.39 1,337.06
Toilet Bowl Cleaner 5 760.00 3,800.00 3,990.00 4,189.50 4,398.98 4,618.92
Garbage Bag 50 20.00 1,000.00 1,050.00 1,102.50 1,157.63 1,215.51
Wastebasket 4 495.00 1,980.00 2,079.00 2,182.95 2,292.10 2,406.70
TOTAL STORE SUPPLIES-SANITARY ₱ 19,753.00 ₱ 20,740.65 ₱ 21,777.68 ₱ 22,866.57 ₱ 24,009.89
ADMINISTRATIVE SUPPLIES
2021 2022 2023 2024
Ballpoint Pen 120 6.00 720.00 756.00 793.80 833.49 875.16
Pencils 120 6.00 720.00 756.00 793.80 833.49 875.16
Thermal Receipt Paper 12 102.00 1,224.00 1,285.20 1,349.46 1,416.93 1,487.78
Ink for printer 8 70.00 560.00 588.00 617.40 648.27 680.68
TOTAL ADMIN SUPPLIES ₱ 3,224.00 ₱ 3,385.20 ₱ 3,554.46 ₱ 3,732.18 ₱ 3,918.79
TOTAL SUPPLIES ₱ 22,977.00 ₱ 24,125.85 ₱ 25,332.14 ₱ 26,598.75 ₱ 27,928.69

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5. Equipment
EQUIPMENTS DEPRECIATION 2020 2021 2022 2023 2024

DEPRECIATION
ITEM TOTAL PRICE YEARS Equipmet Net of Depreciation
PER YEAR
Gas Burner And Gas Oven 25,495.00 10 2,549.50 22,945.50 20,396.00 17,846.50 15,297.00 12,747.50
Oscartielle Gelato Ice Cream

90,000.00 10 9,000.00 81,000.00 72,000.00 63,000.00 54,000.00 45,000.00
Display Showcase Cabinet Model
Air Conditioner 11,000.00 8 1,375.00 9,625.00 8,250.00 6,875.00 5,500.00 4,125.00

Waffle Maker 5,600.00 5 1,120.00 4,480.00 3,360.00 2,240.00 1,120.00 5,600.00
Refrigerator 12,780.00 5 2,556.00 10,224.00 7,668.00 5,112.00 2,556.00 12,780.00
Cash Register 11,616.00 5 2,323.20 9,292.80 6,969.60 4,646.40 2,323.20 11,616.00
Fire Extinguisher 4,500.00 0 0.00 4,500.00 4,500.00 4,500.00 4,500.00 4,500.00
Water Dispenser 2,000.00 4 500.00 1,500.00 1,000.00 500.00 2,000.00 1,500.00
Exhaust Fan 3,000.00 5 600.00 2,400.00 1,800.00 1,200.00 600.00 3,000.00
Freezer 49,750.00 5 9,950.00 39,800.00 29,850.00 19,900.00 9,950.00 49,750.00
Electric mixer 6,800.00 2 3,400.00 3,400.00 6,800.00 3,400.00 6,800.00 3,400.00
TOTAL STORE EQUIPMENT ₱ 222,541.00 ₱33,373.70 ₱189,167.30 ₱162,593.60 ₱129,219.90 ₱104,646.20 ₱154,018.50
ADMINISTRATIVE EQUIPMENT DEPRECIATION 2020 2021 2022 2023 2024

DEPRECIATION
ITEM TOTAL PRICE YEARS Equipmet Net of Depreciation
PER YEAR
Printer 4,000.00 5 800 3,200.00 2,400.00 1,600.00 800.00 4,000.00
Laptop 25,000.00 10 2500 22,500.00 20,000.00 17,500.00 15,000.00 12,500.00
TOTAL ADMIN EQUIPMENT ₱ 29,000.00 3300 25,700.00 22,400.00 19,100.00 15,800.00 16,500.00
TOTAL EQUIPMENT ₱ 251,541.00 ₱36,673.70 ₱214,867.30 ₱184,993.60 ₱148,319.90 ₱120,446.20 ₱170,518.50

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6. Furniture and Fixtures
STORE FURNITURES & FIXTURES DEPRECIATION 2020 2021 2022 2023 2024
DEPRECIATION
ITEM TOTAL PRICE YEARS Furniture and Fixture Net of Depreciation
PER YEAR
Table 12,000.00 5 2,400.00 9,600.00 7,200.00 4,800.00 2,400.00 12,000.00
Chairs 10,500.00 5 2,100.00 8,400.00 6,300.00 4,200.00 2,100.00 10,500.00
Long Table 18,000.00 5 3,600.00 14,400.00 10,800.00 7,200.00 3,600.00 18,000.00
Small Couch 7,000.00 5 1,400.00 5,600.00 4,200.00 2,800.00 1,400.00 7,000.00
Table (Food Preparation) 15,730.00 5 3,146.00 12,584.00 9,438.00 6,292.00 3,146.00 15,730.00
TOTAL STORE F & F ₱63,230.00 ₱12,646.00 ₱50,584.00 ₱37,938.00 ₱25,292.00 ₱12,646.00 ₱63,230.00
ADMINISTRATIVE FURNITURES & FIXTURES DEPRECIATION 2020 2021 2022 2023 2024
DEPRECIATION
ITEM TOTAL PRICE YEARS Furniture and Fixture Net of Depreciation
PER YEAR
Office Chair 10,937.00 5 2,187.40 8,749.60 6,562.20 4,374.80 2,187.40 4,374.80
Office Table 15,000.00 5 3,000.00 12,000.00 9,000.00 6,000.00 3,000.00 6,000.00
TOTAL ADMIN F & F ₱25,937.00 ₱5,187.40 ₱20,749.60 ₱15,562.20 ₱10,374.80 ₱5,187.40 ₱10,374.80
TOTAL F & F ₱89,167.00 ₱17,833.40 ₱71,333.60 ₱53,500.20 ₱35,666.80 ₱17,833.40 ₱73,604.80
7. Leasehold Improvement
Leasehold Improvement 150,000.00 120,000.00 90,000.00 60,000.00 30,000.00

Depreciation per year (30,000.00) (30,000.00) (30,000.00) (30,000.00) (30,000.00)
Leasehold Improvement, Net 120,000.00 90,000.00 60,000.00 30,000.00 -

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8. Trade and Other Payables
2020 2021 2022 2023 2024

Withholding Tax on rent 22,200.00 23,310.00 24,475.50 25,699.28 26,984.24
VAT Payable
Output Tax 561,075.93 600,912.32 643,577.10 689,271.07 738,209.32
Input Tax (234,310.40) (246,025.92) (258,327.21) (271,243.57) (284,805.75)

VAT Payable 326,765.54 326,765.54 354,886.41 354,886.41 385,249.89 385,249.89 418,027.50 418,027.50 453,403.57 453,403.57
Accounts Payable 142,390.96 137,851.19 132,338.91 125,370.32 116,438.32
SSS Payable 6,793.50 7,014.90 7,235.70 7,677.90 8,239.50
HDMF Payable 700.00 700.00 700.00 700.00 700.00
PHIC Payable 1,150.00 1,237.50 1,250.00 1,337.50 1,987.50
Total Trade and other
Payable 500,000.00 525,000.00 551,250.00 578,812.50 607,753.13

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FINANCIAL RATIOS
Current Ratio
2019 2020 2021 2022 2023
Current Assets PHP 1,253,668.04 PHP 1,433,162.58 PHP 1,612,722.84 PHP 1,801,404.54 PHP 1,707,162.87
Current Liabilities 500,000.00 525,000.00 551,250.00 578,812.50 607,753.13
Current Ratio 2.51 2.73 2.93 3.11 2.81
Gross Margin Ratio

2019 2020 2021 2022 2023
Gross Profit PHP 2,775,901.43 PHP 2,783,284.89 PHP 2,982,153.94 PHP 3,204,418.41 PHP 3,443,551.30
Sales 4,675,632.78 5,007,602.70 5,363,142.49 5,743,925.61 6,151,744.33
Gross Profit Margin 59.37% 55.58% 55.60% 55.79% 55.98%
Net Profit Ratio

2019 2020 2021 2022 2023
Net Profit PHP 659,868.94 PHP 626,787.44 PHP 668,803.16 PHP 835,412.10 PHP 902,661.41
Revenue 4,675,632.78 5,007,602.70 5,363,142.49 5,743,925.61 6,151,744.33
Net Profit Margin 14.11% 12.52% 12.47% 14.54% 14.67%
Return on Asset
2019 2020 2021 2022 2023
Average Total Assets 1,659,868.94 1,710,762.66 1,759,411.62 1,811,979.75 1,839,841.03
Return on Asset 39.75% 36.64% 38.01% 46.10% 49.06%
Return on Investment
2019 2020 2021 2022 2023
Total Investment 1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00
Return on Investment 65.99% 62.68% 66.88% 83.54% 90.27%

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Leverage Ratio
2019 2020 2021 2022 2023
Total Liabilities PHP 500,000.00 PHP 525,000.00 PHP 551,250.00 PHP 578,812.50 PHP 607,753.13
Total Asset 1,659,868.94 1,761,656.38 1,856,709.54 1,969,684.14 1,951,286.17
Debt Ratio 30.12% 29.80% 29.69% 29.39% 31.15%
2019 2020 2021 2022 2023
Total Equity PHP 1,159,868.94 PHP 1,371,229.88 PHP 1,540,503.74 PHP 1,776,858.45 PHP 1,981,901.34
Total Asset 1,659,868.94 1,761,656.38 1,856,709.54 1,969,684.14 1,951,286.17
Equity Ratio 69.88% 77.84% 82.97% 90.21% 101.57%
2019 2020 2021 2022 2023
Total Liabilities PHP 500,000.00 PHP 525,000.00 PHP 551,250.00 PHP 578,812.50 PHP 607,753.13
Total Equity 1,159,868.94 1,371,229.88 1,540,503.74 1,776,858.45 1,981,901.34
Debt to Equity Ratio 43.11% 38.29% 35.78% 32.58% 30.67%

194

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CREAMY TREATS

Ice Cream Shop

“A TREAT IN EVERY SCOOP”

6.1.1 PRODUCT COSTING

Product RM DL FOH applied Cost per Unit

Turon de Crema 31.58 7.11 2.133 40.823

Cookie Vanilla Ice

Product Costing per Ice Cream Cup Serving

Exclusive Treats Flavors

“A TREAT IN EVERY SCOOP”

Avocado 46.61 20.48 6.14 73.23 3.05 4.00 15.26 19.26

Product Costing per Ice Cream Cone Serving

“A TREAT IN EVERY SCOOP”

Product Costing per Ice Cream Cup Serving

“A TREAT IN EVERY SCOOP”

Product Costing per Ice Cream Cone Serving

“A TREAT IN EVERY SCOOP”

Mark-up per Ice Cream Cup Serving

Rocky Road on the

Ube Macapuno 15.87 19.87 50 5.36 24.77 124.62%

Mango Maniac 16.40 20.40 50 5.36 24.25 118.89%

“A TREAT IN EVERY SCOOP”

Mark-up per Ice Cream Cone Serving

total cost of Cost per Selling VAT Mark- Mark-Up

Ube Macapuno 9.52 13.52 35 3.75 17.73 131.06%

Mango Maniac 9.84 13.84 35 3.75 17.41 125.84%

“A TREAT IN EVERY SCOOP”

Mark-up per Ice Cream Cup Serving

Exclusive Treats Flavors

total cost of Cost per Selling VAT Mark- Mark-Up

Avocado 15.26 19.26 50 5.36 25.39 131.83%

Product Costing per Ice Cream Cup Serving

Exclusive Treats Flavors

total cost of Cost per Selling VAT Mark- Mark-Up

“A TREAT IN EVERY SCOOP”

Turon de Crema 40.823 95 10.18 44.00 107.78%

Churros Ice Cream

Cookie Vanilla Ice

1. ROCKY ROAD ON THE GO

Ingredients Cost per Liter

1/4 cup of butter milk 7.57

1/2 cup of skimmed milk 8.87

“A TREAT IN EVERY SCOOP”

2/5 tsp. of agar agar (stabilizer) 0.30

5/8 cup of milk 7.39

1/2 cup of cream 11.82

1/8 cup of water 0.39

1/8 cup of marshmallow 1.48

1/8 cup of chocolate syrup 5.32

TOTAL DIRECT MATERIAL 53.41

DIRECT LABOR 22.76

FACTORY OVERHEAD (70% OF Direct labor) 6.83

TOTAL PRODUCT COST: 83.00

2. ULTIMATE DOUBLE DUTCH

Ingredients Cost per Liter

50 grams of flavoring 5.50

“A TREAT IN EVERY SCOOP”

TOTAL DIRECT MATERIALS 56.26

TOTAL PRODUCTION COST : 85.85

3. UBE MACAPUNO MADNESS

Ingredients Cost per Liter

50 grams of flavoring 5.50

TOTAL PRODUCT COST: 76.20