Grain radical on the left — 程 originally meant a measured unit of grain used as a standard for weighing, which generalised to standard, regulation, measurement. The agricultural origin still shows: 程 carries the sense of an established quantity or procedure.
Right component supplies the sound exactly: chéng. Reinforced semantically — 呈 to formally present echoes the bureaucratic flavour of 程 as set procedure / official measurement. Same phonetic in 逞 chěng (give free rein), 酲 chéng (hangover).
