Veggietizer (Veggie Meat) Feasibility Study
by A feasibility study about veggie meat production by the students of Urdaneta City University. This study may serve as a guide for researchers in making feasibility studies. It may also be useful for businessmen aiming to establish a similar venture.
- Sales
Sales shall be computed based from the estimated demand of chicken vendors, grocery stores and mall/supermarkets for each product per delivery multiplied by the target market multiplied by the selling price then to the number of delivery days.
Sales for year 1 to year 5 are P7,338,455.04; P9,222,528.00; P10.913.710.08, P13,410,862.08 and P15,042,908.16, respectively. Appendix O shows the supporting computations of sale for each product.
- Cost of Sales
As presented in Appendix P, the cost of sales for the year 1 – 5 is as follows: 2011 – P5,609,395.10; 2012 – P6,750,164.20; 2013 – P7,461,955.82; 2014 – P8,501,495.66; and 2015 – P9,211,809.03.
- Salaries
Table 1 on page 15 shows the basic monthly salary of the General Manager, Cashier and Production Manager and Table 2 on page __ show the daily basic salary of the Delivery Man and Production processors. The first year salary is based on Wage Order RB-1-13 (Appendix J on page 95) of the DOLE. An increase of 5 percent on their monthly and daily salary each year shall be given until fifth year of operation. An increase of P15 pesos is assumed in this study from the 2008 minimum wage rate. Every year, there will be additional one processor to meet the market demand. The initial salary of the new employee shall be same as the initial salary of the old processors. In addition, the salaries of processors shall be charged to direct labor (Appendix R) and the production manager will be charged to indirect labor (Appendix U) for the reason that he/she spend most of his/her time in the production while the salaries of selling and administrative staff shall be charged to operating expenses (Appendix Q).
- 13th Month Pay (Bonus)
This benefit is given to the employees as a reward to their good performance which is equivalent to the average monthly salary and shall be given at year end. The bonus of the processors shall be charged to factory overhead (Appendix U) while the bonus of selling and administrative staff shall be charged to operating expenses (Appendix V).
- SSS and EC Contribution
This contribution expense shall be based on the monthly compensation. The SSS and EC Contributions schedule (Appendix L) shall be the basis of their Social Security Contribution. The SSS and EC Contribution of the processors and production leader shall be charged to factory overhead (Appendix U) while the contribution of selling and administrative staff shall be charged to operating expenses (Appendix S).
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