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Authors : Christine Joy S. Rocha & Richard J. Marañon

Budget Benders. Authors : Christine Joy S. Rocha & Richard J. Marañon. Problem:.

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Authors : Christine Joy S. Rocha & Richard J. Marañon

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  1. BudgetBenders Authors: Christine Joy S. Rocha & Richard J. Marañon

  2. Problem: A research work that involves an enzyme (Lysozyme) which we believe that it has antibacterial properties and could have a dramatic potential as a food preservative and revolutionize food storage-features. It is funded by the government, foundation and friends. Now it is time to submit a financial statement of the research work.

  3. Understanding the Problem: The problem is all about making a financial statement for the research work. All we need is to identify the materials being funded and being bought so that we can check the details.

  4. Solution The things they paid off were Researcher’s allowance (1 year), Chemist fee, Laboratory Assistant fee, Secretary fee (part‐time), Office/Laboratory Space & Utilities fee (1 year),Equipment & Furniture, Supplies, Outside Testing, and Legal/Patents .

  5. Solution To sum it up: Researcher’s allowance P2, 250, 000 Chemist P2, 000, 000 Laboratory Assistant P1, 000, 000 Secretary (part‐time) P800, 000 Office/Laboratory Space & Utilities (1 year) P800, 000 Equipment & Furniture P1, 500, 000 Supplies P500, 000 Outside Testing P6, 700, 000 Legal/Patents P168, 000

  6. Solution Total Amount of: P15, 718, 000

  7. Solution To cover this budget, they get donations from: Government P10,000,000 Medical Foundation P3,500,000 Friends P2,250,000

  8. Gov’t, Foundation and Friends’ donation: P15, 750, 000 Proposed Budget: P15, 718, 000 Difference: P32, 000 There is an exist budget of P32, 000.

  9. The things they bought and paid: Researcher’s allowance P2, 350, 000 Chemist P2, 000, 000 Laboratory Assistant P1, 000, 000 Secretary (part‐time) P800, 000 Office/Laboratory Space & Utilities (1 year) P900, 000 Equipment & Furniture P1, 570, 000 Supplies P750, 000 Outside Testing P6, 700, 000 Legal/Patents P168, 000 Total P16, 238, 000

  10. Summary of Financial in-flow and out-flow Designated Budget: P15, 718, 000 In-flow: P15, 750, 000 Out-flow: P16, 238, 000 Difference: -P438, 000 The things they bought exceeded not just the proposed budget but also the raised fund. Why?

  11. Conclusion The researcher list down all the things needed to create a budget plan. They present the budget to the people they want to fund their work. The budget being used doesn’t meet proposed budget since the researchers use some of the money for luxury purposes.

  12. Recommendation In budgeting, it is important to set first a budget and financial goals for it helps someone to track his budget. Make a list of what is absolutely essential that you pay for. Begin budgeting out the rest of your discretionary spending. Use a software to help you budget your money. (Ex. Microsoft Money and Budget Pulse

  13. References Stuart et al. How to Budget Your Money http://www.wikihow.com/Budget-Your-Money F. Gervutz(2004), Business Planning Lysozyme: Start‐up http://www.law.indiana.edu/instruction/wihender/5371/Documents/lysozyme.pdf https://www.google.com.ph/search?hl=en&site=imghp&tbm=isch&source=hp&biw=1040&bih=656&q=budget&oq=budget&gs_l=img.3...33028.33884.0.34609.6.6.0.0.0.0.0.0..0.0....0...1ac.1.27.img..6.0.0.XFUdT4SaNBs#imgdii=_ https://www.google.com.ph/search?hl=en&site=imghp&tbm=isch&source=hp&biw=1040&bih=656&q=budget&oq=budget&gs_l=img.3..0l10.1157.2434.0.4236.6.6.0.0.0.0.345.944.3j1j0j2.6.0....0...1ac.1.27.img..2.4.454.n7MDDJzn9CU#imgdii=_

  14. Thank youand God bless!

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