5.1.

1 Modal Investasi

Aktiva Tetap Harga Beli

Peralatan Rp1,200,000
Perabot Rp1,500,000
Kendaraan Motor Rp15,000,000
Laptop Rp4,000,000

Total Aktiva Tetap

Investasi Pra-Operasi
Produk Percobaan
Total Investasi Pra-Operasi
TOTAL INVESTASI
Tabel 28 Modal Investasi

5.1.2 Modal Kerja

Keterangan Nilai

Biaya Pokok Produksi

Bahan Langsung Rp8,084,982
Upah Langsung Rp0
Bahan Tidak Langsung Rp3,337,984
Total Biaya Produksi Rp11,422,966
Biaya Usaha
Biaya Adm Umum Rp2,500,000
Biaya Pemasaran Rp3,200,000

Total Biaya Usaha Rp5,700,000

TOTAL MODAL KERJA Rp17,122,966

Tabel 29 Modal Kerja
5.2 Sumber Dana
Keterangan Total
MODAL INVESTASI
Investasi Aktiva Tetap
Peralatan Rp2,400,000
Perabot Rp3,000,000
Sepeda Motor Rp15,000,000
Laptop Rp4,000,000
Total Aktiva Tetap Rp24,400,000
Investasi Pra Operasi
Produk Percobaan Rp50,000
Total Investasi Pra-Operasi Rp50,000
TOTAL INVESTASI Rp24,450,000
MODAL KERJA
Biaya Pokok Produksi
Bahan Baku Rp8,084,982
Upah langsung Rp0
Bahan Tidak Langsung Rp3,337,984
Total Biaya Produksi Rp11,422,966
Biaya Usaha
Biaya Adm Umum Rp2,500,000
Biaya Pemasaran Rp3,200,000
Total Biaya Usaha Rp5,700,000
TOTAL MODAL KERJA Rp17,122,966
TOTAL BIAYA PROYEK Rp41,572,966
Presentase (%) 100%
Tabel 30 Sumber Dana

5.3 Proyeksi Rugi-Laba

Keterangan 2020
Pendapatan
Misro yang terjual (dalam bungkus) 13,200
Harga Jual per bungkus Rp2,000
Total Pendapatan Rp26,400,000
Biaya-Biaya Produksi
Biaya Bahan Langsung Rp7,349,984
Biaya Bahan Tidak Langsung Rp3,034,531
Total Biaya Produksi Rp10,384,515
Laba Kotor Rp16,015,485
Biaya-Biaya Tetap
Biaya Pemasaran Rp3,200,000
Biaya Gaji Pegawai Rp -
Biaya Pemeliharaan Rp200,000
Biaya Transport Rp2,400,000
Biaya Penyusutan Rp3,730,000
Biaya Listrik & Air Rp3,000,000
Total Biaya Tetap Rp12,530,000
Laba (Rugi) Usaha Rp3,485,485
Bunga Hutang ke Bank Rp1,648,000
Laba (Rugi) Sebelum Pajak Rp1,837,485
Pajak Rp18,000
Laba (Rugi) Bersih Rp1,819,485
BEP (Biaya Tetap/(1-(Biaya Variabel/Penjualan) Rp21,027,271
Profit Margin (Laba Bersih/Pendapatan*100%) 6.89%
Tabel 31 Proyeksi Rugi-Laba
5.4 Proyeksi Arus Kas
KETERANGAN 2020
ARUS KAS MASUK
Penjualan Tunai Rp29,125,000
Piutang Rp -
Modal Sendiri Rp33,000,000
Hutang Bank Rp10,000,000
Saldo Kas Awal Rp -
TOTAL KAS MASUK Rp72,125,000
ARUS KAS KELUAR
Investasi Rp21,630,000
Biaya Pokok Produksi (kas) Rp11,422,966
Biaya Usaha (kas) Rp9,800,000
Bunga Rp1,648,000
Pajak Rp18,000
TOTAL KAS KELUAR Rp44,518,966
KAS BERSIH Rp27,606,034
KEWAJIBAN BANK
Hutang Bank Rp2,000,000
TOTAL KEWAJIBAN BANK Rp2,000,000
SALDO KAS AKHIR Rp25,606,034
Table 32 Proyeksi Arus Kas
5.5 Proyeksi Neraca
Keterangan 2020
Aktiva
Aktiva Lancar
Kas Rp25,606,034
Persediaan Rp1,038,451
Total Aktiva Lancar Rp26,644,485
Aktiva Tetap
Peralatan Rp3,600,000
Perlengkapan Rp5,000,000
Sepeda Motor Rp8,000,000
Laptop Rp5,000,000
Akumulasi Penyusutan -Rp3,700,000
Total Aktiva Tetap Rp17,900,000
Investasi Pra Operasi
Percobaan Rp30,000
Akumulasi Amortisasi -Rp30,000
Total Investasi Pra Operasi Rp -
Total Aktiva Rp44,544,485
Hutang dan Modal
Hutang Lancar
Hutang Dagang Rp -
Total Hutang Lancar Rp -
Hutang Jangka Panjang
Hutang Bank Rp8,000,000
Total Hutang Jangka Panjang Rp8,000,000
Modal
Modal Pemilik yang Disetorkan Rp33,000,000
Laba Ditahan Rp3,544,485
Total Modal Rp36,544,485
Total Hutang dan Modal Rp44,544,485
ROI 10.74%
Tabel 33 Proyeksi Neraca
5.5 Analisis Keuangan
5.5.1 Analisis Kriteria Investasi
1. Payback Period
2019
Arus Kas Bersih -Rp42,852,966
Arus Kas Kumulatif
Indeks Arus Kas

Arus Kas Positif 1

Payback Period 1.45

Table 34 Payback Period

2. Net Present Value (NPV) dan Internal Rate of Return
(IRR)

Tahun Laba Setelah Pajak

2020 Rp3,544,485
2021 Rp4,905,537
2022 Rp5,299,263
2023 Rp5,692,989
2024 Rp6,102,892
Total PV of Proceed
Total Investment
Net Present Value
IRR
Table 35 NPV & IRR
 Umur Ekonomis (dalam
Quantitiy Nilai
Tahun)

2 Rp2,400,000 5
2 Rp3,000,000 5
1 Rp15,000,000 5
1 Rp4,000,000 5

Rp24,400,000 Biaya penyusutan per Tahun

Rp50,000
Rp50,000
Rp24,450,000
 Modal Sendiri Kredit

Rp2,400,000 Rp -
Rp - Rp3,000,000
Rp15,000,000 Rp -
Rp - Rp4,000,000
Rp17,400,000 Rp7,000,000

Rp50,000 Rp -
Rp50,000 Rp -
Rp17,450,000 Rp8,000,000

Rp8,084,982 Rp -
Rp0 Rp -
Rp3,337,984 Rp -
Rp11,422,966 Rp -

Rp2,500,000 Rp -
Rp3,200,000 Rp -
Rp5,700,000 Rp -
Rp17,122,966 Rp -
Rp34,572,966 Rp8,000,000
80% 19%

2021 2022 2023

15,840 19,008 22,809

Rp2,000 Rp2,000 Rp2,000
Rp31,680,000 Rp38,016,000 Rp45,618,000

Rp6,816,987 Rp6,950,952 Rp7,084,917

Rp2,814,476 Rp2,869,785 Rp2,925,095
Rp9,631,463 Rp9,820,737 Rp10,010,011
Rp22,048,537 Rp28,195,263 Rp35,607,989
Rp3,200,000 Rp3,200,000 Rp3,200,000
Rp - Rp - Rp -
Rp200,000 Rp200,000 Rp200,000
Rp2,400,000 Rp2,400,000 Rp2,400,000
Rp3,700,000 Rp3,700,000 Rp3,700,000
Rp3,000,000 Rp3,000,000 Rp3,000,000
Rp12,500,000 Rp12,500,000 Rp12,500,000
Rp9,548,537 Rp15,695,263 Rp23,107,989
Rp1,648,000 Rp1,648,000 Rp1,648,000
Rp7,900,537 Rp14,047,263 Rp21,459,989
Rp25,000 Rp27,000 Rp29,000
Rp7,875,537 Rp14,020,263 Rp21,430,989
Rp19,975,808 Rp19,975,444 Rp19,975,094
24.86% 36.88% 46.98%

2021 2022 2023

Rp29,710,000 Rp30,295,000 Rp30,880,000

Rp - Rp - Rp -
Rp - Rp - Rp -
Rp - Rp - Rp -
Rp25,606,034 Rp31,983,423 Rp38,682,311
Rp55,316,034 Rp62,278,423 Rp69,562,311

Rp - Rp - Rp -
Rp9,859,611 Rp10,121,112 Rp10,315,917
Rp9,800,000 Rp9,800,000 Rp9,800,000
Rp1,648,000 Rp1,648,000 Rp1,648,000
Rp25,000 Rp27,000 Rp29,000
Rp21,332,611 Rp21,596,112 Rp21,792,917
Rp33,983,423 Rp40,682,311 Rp47,769,394

Rp2,000,000 Rp2,000,000 Rp2,000,000

Rp2,000,000 Rp2,000,000 Rp2,000,000
Rp31,983,423 Rp38,682,311 Rp45,769,394

2021 2022 2023

 Rp31,983,423 Rp38,682,311 Rp45,769,394
Rp1,266,599 Rp1,566,974 Rp1,872,880
Rp33,250,022 Rp40,249,285 Rp47,642,274

Rp3,600,000 Rp3,600,000 Rp3,600,000

Rp5,000,000 Rp5,000,000 Rp5,000,000
Rp8,000,000 Rp8,000,000 Rp8,000,000
Rp5,000,000 Rp5,000,000 Rp5,000,000
-Rp7,400,000 -Rp11,100,000 -Rp14,800,000
Rp14,200,000 Rp10,500,000 Rp6,800,000

Rp - Rp - Rp -
Rp - Rp - Rp -
Rp - Rp - Rp -
Rp47,450,022 Rp50,749,285 Rp54,442,274

Rp - Rp - Rp -
Rp - Rp - Rp -

Rp6,000,000 Rp4,000,000 Rp2,000,000

Rp6,000,000 Rp4,000,000 Rp2,000,000

Rp33,000,000 Rp33,000,000 Rp33,000,000

Rp8,450,022 Rp13,749,285 Rp19,442,274
Rp41,450,022 Rp46,749,285 Rp52,442,274
Rp47,450,022 Rp50,749,285 Rp54,442,274
14.87% 16.06% 17.25%

2020 2021
Rp27,606,034 Rp33,983,423
-Rp15,246,933 Rp18,736,490
0 0.45

= 1 tahun 5 bulan
 Penyusutan dan
Proceed Faktor Diskonto 1 (7%)
Amortisasi
Rp - Rp3,544,485 0.935
Rp - Rp4,905,537 0.873
Rp - Rp5,299,263 0.816
Rp - Rp5,692,989 0.763
Rp - Rp6,102,892 0.713
 Biaya Penyusutan
Nilai Residu Keterangan
per Tahun

Rp100,000 Rp220,000 Peralatan

Rp0 Rp300,000 Perlengkapan
Rp5,000,000 Rp2,000,000 Kendaraan Motor
Rp1,500,000 Rp500,000 Laptop

ya penyusutan per Tahun Rp3,020,000 Total Aktiva Tetap

Tabel 17 Rekapitulasi Pemakaian

Pemakaian Bahan
Tahun Pemakaian Bahan Baku
Pembantu
2020 Rp7,349,984 Rp3,034,531
2021 Rp6,816,987 Rp2,814,476
2022 Rp6,950,952 Rp2,869,785
2023 Rp7,084,917 Rp2,925,095
2024 Rp7,207,432 Rp2,975,676

Tabel 25 Rekapitulasi Rencana Pembelian

Pembelian Bahan
Tahun Pembelian Bahan Baku
Pembantu
2020 Rp8,084,982 Rp3,337,984
2021 Rp6,763,687 Rp3,095,924
2022 Rp6,964,348 Rp3,156,764
 2023 Rp7,098,313 Rp3,217,604
2024 Rp7,219,638 Rp3,273,244

2024

27,371
Rp2,000
Rp54,742,000

Rp7,207,432
Rp2,975,676
Rp10,183,108
Rp44,558,892
Rp3,200,000
Rp -
Rp200,000
Rp2,400,000
Rp3,700,000
Rp3,000,000
Rp12,500,000
Rp32,058,892
Rp1,648,000
Rp30,410,892
Rp31,000
Rp30,379,892
Rp19,959,574
55.50%

2024

Rp31,465,000
Rp -
Rp -
Rp -
Rp45,769,394
Rp77,234,394

Rp -
Rp10,492,882
Rp9,800,000
Rp1,648,000
Rp31,000
Rp21,971,882
Rp55,262,512

Rp2,000,000
Rp2,000,000
Rp53,262,512

2024
Rp53,262,512
Rp2,182,655
Rp55,445,166

Rp3,600,000
Rp5,000,000
Rp8,000,000
Rp5,000,000
-Rp18,500,000
Rp3,100,000

Rp -
Rp -
Rp -
Rp58,545,166

Rp -
Rp -

Rp -
Rp -

Rp33,000,000
Rp25,545,166
Rp58,545,166
Rp58,545,166
18.49%

2022
Rp40,682,311
Rp59,418,801
0.45 0.46
 Faktor Diskonto 2
PV of Proceed (Faktor 1) PV of Proceed (Factor 2)
(9 %)
Rp3,314,093.56 0.917 Rp3,250,292.83
Rp4,282,533.92 0.842 Rp4,130,462.27
Rp4,324,198.65 0.772 Rp4,091,031.07
Rp4,343,750.57 0.708 Rp4,030,636.18
Rp4,351,362.09 0.65 Rp3,966,879.89
Rp20,615,938.79 Rp19,469,302.24
-Rp21,630,000.00 -Rp21,630,000.00
-Rp1,014,061.21 -Rp2,160,697.76
5.37% 5.37%
 Umur Ekonomis
Harga Beli Jumlah Nilai
(dalam Tahun)

Rp1,200,000 2 Rp2,400,000 5
Rp1,250,000 3 Rp5,000,000 5
Rp15,000,000 1 Rp15,000,000 5
Rp4,000,000 1 Rp4,000,000 5

Rp26,400,000
Tabel 26 Peralatan dan Perlengkapan yang Dibutuhkan

Total

Rp10,384,515
Rp9,631,463
Rp9,820,737
Rp10,010,011
Rp10,183,108

an

Total

Rp11,422,966
Rp9,859,611
Rp10,121,112
Rp10,315,917
Rp10,492,882
 2023 2024
Rp47,769,394 Rp55,262,512
Rp107,188,195 Rp162,450,706
1.24 1.94
Nilai Residu

Rp100,000
Rp0
Rp5,000,000
Rp1,500,000