CAPACIDAD TM PRECIO $ ESTRUCTURA DE INVERSIONES

PRODUCCION 30,000.00 VENTA 40.00 S / FINAN.

TANGIBLES

DEPRECIACIÓN VR AÑOS VALOR EDIFICIO 300,000.00

EDIFICIO 300,000.00 10% 30 9,000.00 MAQUINARIA 400,000.00
MAQ Y EQ 490,000.00 10% 10 44,100.00 EQUIPO 50,000.00
EQ COMPUTO 30,000.00 10% 4 6,750.00 59,850.00 INSTALACION 30,000.00
DEPRECIACION 59,850.00 FLETE (Gast. Intern. Mq y Eq) 10,000.00
VEHÍCULO 12,000.00 1,600.00 7 1,485.71 EQUIPO COMPUTO 30,000.00

AMORTIZACION DE INTANGIBLES INTANGIBLES

SIN FINANC CON FINANC ESTUDIO DE PROYECTO 12,000.00
EN 5 AÑOS 14,710.00 16,390.00 SOFTWARE 9,000.00
ORG. DE LA EMP. 3,000.00
INTERESES PRE OPERATIVOS (Trimestrales) SERVICIO DE INGENIERIA 5,000.00
AÑO 360 Valor PUESTA EN MARCHA 2,000.00
1 ero 20% 60,000.00 90 Dias 1,050.00 IMPREVISTO (5%) 42,550.00
2 do 20% 120,000.00 90 Dias 2,100.00 INTERESES PRE OPERATIVOS
3 ero 60% 300,000.00 90 Dias 5,250.00
TOTAL 8,400.00 TERRENO 80,000.00

APORTE TERCEROS 300,000.00 IMPUESTO 30% CAPITAL TRABAJO (1er Año) 14,055.65
APORTE PROPIO 687,605.65
987,605.65 COSTO DE OPORTUNIDAD 12% INVERSION 987,605.65

PRESTAMO 300,000.00 Desembolsos LEASING(vehiculo) 12,000.00 COSTO DE CAPITAL PONDERADO

INTERES 8% 7% INTERES (anual) 0.06 300,000.00 8% 0.30
TIEMPO años 8 TIEMPO (año) 7 687,605.65 12% 0.70
ANUALIDAD 52,204.43 (AUTO)...... 987,605.65 1.00
 C / FINAN.

300,000.00
400,000.00
50,000.00
30,000.00
10,000.00
30,000.00

12,000.00
9,000.00
3,000.00
5,000.00
2,000.00
42,550.00
8,400.00

80,000.00

14,055.65

996,005.65

2%
8%
11%
 COSTO DE PRODUCCION
AÑOS 55% 60% 60% 70% 70% 80% 80% 80% 100%
RUBRO 1 2 3 4 5 6 7 8 9
COSTOS VARIABLES
SUELDOS Y SALARIOS 6,600.00 7,200.00 7,200.00 8,400.00 8,400.00 9,600.00 9,600.00 9,600.00 12,000.00
MADERA 29,700.00 32,400.00 32,400.00 37,800.00 37,800.00 43,200.00 43,200.00 43,200.00 54,000.00
M.P 18,150.00 19,800.00 19,800.00 23,100.00 23,100.00 26,400.00 26,400.00 26,400.00 33,000.00
COMBUST Y LUBRIC 25,300.00 27,600.00 27,600.00 32,200.00 32,200.00 36,800.00 36,800.00 36,800.00 46,000.00
IMPUESTO INDIRECTO 16,500.00 18,000.00 18,000.00 21,000.00 21,000.00 24,000.00 24,000.00 24,000.00 30,000.00
DIVERSOS GASTOS 2,750.00 3,000.00 3,000.00 3,500.00 3,500.00 4,000.00 4,000.00 4,000.00 5,000.00
TOTAL COSTO VARIABLE 99,000.00 108,000.00 108,000.00 126,000.00 126,000.00 144,000.00 144,000.00 144,000.00 180,000.00
COSTOS FIJOS
SUELDOS Y SALARIOS 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00
SEGUROS 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00
DEPRECIACION LINEAL 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00
DEPRECIACION VEHICULO 1,485.71 1,485.71 1,485.71 1,485.71 1,485.71 1,485.71
TOTAL C.F. ECONOMICO 85,850.00 85,850.00 85,850.00 87,335.71 87,335.71 87,335.71 87,335.71 87,335.71 87,335.71
TOTAL C.F. FINANCIERO 85,850.00 85,850.00 85,850.00 85,850.00 85,850.00 85,850.00 85,850.00 85,850.00 85,850.00

COSTO DE PRODUCCION ECONOMICO 184,850.00 193,850.00 193,850.00 213,335.71 213,335.71 231,335.71 231,335.71 231,335.71 267,335.71
COSTO DE PRODUCCION FINANCIERO 184,850.00 193,850.00 193,850.00 211,850.00 211,850.00 229,850.00 229,850.00 229,850.00 265,850.00

PRODUCCION 16,500.00 18,000.00 18,000.00 21,000.00 21,000.00 24,000.00 24,000.00 24,000.00 30,000.00
PRECIO 40.00 40.00 40.00 40.00 40.00 40.00 40.00 40.00 40.00
INGRESO VENTAS 660,000.00 720,000.00 720,000.00 840,000.00 840,000.00 960,000.00 960,000.00 960,000.00 1,200,000.00
COSTO UNITARIO PRODUCCION 11.20 10.77 10.77 10.16 10.16 9.64 9.64 9.64 8.91

PUNTO DE EQUILIBRIO ECONOMICO 101,000.00 101,000.00 101,000.00 102,747.90 102,747.90 102,747.90 102,747.90 102,747.90 102,747.90
PUNTO DE EQUILIBRIO FINANCIERO 101,000.00 101,000.00 101,000.00 101,000.00 101,000.00 101,000.00 101,000.00 101,000.00 101,000.00
 100%
10

12,000.00
54,000.00
33,000.00
46,000.00
30,000.00
5,000.00
180,000.00

18,000.00
8,000.00
59,850.00
1,485.71
87,335.71
85,850.00

267,335.71
265,850.00

30,000.00
40.00
1,200,000.00
8.91

102,747.90
101,000.00
 ALEMAN
DEUDA INTERES AMORTIZACION ANUALIDAD AMORTIZACION
AÑOS PENDIENTE 8% ACUMULADA
1 300,000.00 24,000.00 37,500.00 61,500.00 37,500.00
2 262,500.00 21,000.00 37,500.00 58,500.00 75,000.00
3 225,000.00 18,000.00 37,500.00 55,500.00 112,500.00
4 187,500.00 15,000.00 37,500.00 52,500.00 150,000.00
5 150,000.00 12,000.00 37,500.00 49,500.00 187,500.00
6 112,500.00 9,000.00 37,500.00 46,500.00 225,000.00
7 75,000.00 6,000.00 37,500.00 43,500.00 262,500.00
8 37,500.00 3,000.00 37,500.00 40,500.00 300,000.00
# DE AÑOS 8 108,000.00 300,000.00 408,000.00

LEASING (VEHICULO) ALEMAN

DEUDA INTERES AMORTIZACION ANUALIDAD AMORTIZACION
AÑOS PENDIENTE 6% ACUMULADA
1 12,000.00 720.00 1,714.29 2,434.29 1,714.29
2 10,285.71 617.14 1,714.29 2,331.43 3,428.57
3 8,571.43 514.29 1,714.29 2,228.57 5,142.86
4 6,857.14 411.43 1,714.29 2,125.71 6,857.14
5 5,142.86 308.57 1,714.29 2,022.86 8,571.43
6 3,428.57 205.71 1,714.29 1,920.00 10,285.71
# DE AÑOS 7 2,777.14 10,285.71 13,062.86
 ESTADO DE GANANCIAS Y PERDIDAS S / FINANCIAMIENTTO

AÑOS
RUBRO 1 2 3 4 5 6 7 8
INGRESO / VENTAS 660,000.00 720,000.00 720,000.00 840,000.00 840,000.00 960,000.00 960,000.00 960,000.00
(COSTO DE PRODUCCION) 184,850.00 193,850.00 193,850.00 213,335.71 213,335.71 231,335.71 231,335.71 231,335.71
UTILIDAD BRUTA 475,150.00 526,150.00 526,150.00 626,664.29 626,664.29 728,664.29 728,664.29 728,664.29
(GASTOS ADM. Y VENTAS) 21,320.00 26,720.00 31,120.00 31,120.00 31,120.00 24,000.00 24,000.00 24,000.00
UTILIDAD ANTES DEL IMP. 453,830.00 499,430.00 495,030.00 595,544.29 595,544.29 704,664.29 704,664.29 704,664.29
(IMPUESTOS) 136,149.00 149,829.00 148,509.00 178,663.29 178,663.29 211,399.29 211,399.29 211,399.29
UTILIDAD DE OPERACIÓN 317,681.00 349,601.00 346,521.00 416,881.00 416,881.00 493,265.00 493,265.00 493,265.00

ESTADO DE GANANCIAS Y PERDIDAS C / FINANCIAMIENTO

AÑOS
RUBRO 1 2 3 4 5 6 7 8
INGRESO / VENTAS 660,000.00 720,000.00 720,000.00 840,000.00 840,000.00 960,000.00 960,000.00 960,000.00
(COSTO DE PRODUCCION) 184,850.00 193,850.00 193,850.00 211,850.00 211,850.00 229,850.00 229,850.00 229,850.00
UTILIDAD BRUTA 475,150.00 526,150.00 526,150.00 628,150.00 628,150.00 730,150.00 730,150.00 730,150.00
(GASTOS ADM. Y VENTAS) 21,320.00 26,720.00 31,120.00 31,120.00 31,120.00 24,000.00 24,000.00 24,000.00
(GASTOS FINANCIEROS) 24,000.00 21,000.00 18,000.00 15,000.00 12,000.00 9,000.00 6,000.00 3,000.00

(VEHÍCULO) 720.00 617.14 514.29 411.43 308.57

UTILIDAD ANTES DEL IMP. 429,830.00 478,430.00 477,030.00 581,310.00 584,412.86 696,635.71 699,738.57 702,841.43
(IMPUESTOS) 128,949.00 143,529.00 143,109.00 174,393.00 175,323.86 208,990.71 209,921.57 210,852.43
UTILIDAD DE OPERACIÓN 300,881.00 334,901.00 333,921.00 406,917.00 409,089.00 487,645.00 489,817.00 491,989.00

21,320.00 26,720.00 31,120.00 31,120.00 31,120.00 24,000.00 24,000.00 24,000.00

SIN FINANC CON FINANC

RENTABILIDAD UTIL. MEDIA 0.47

INV. TOTAL

TIEMPO DE PAGO INV. TOTAL 2.15

UTIL. MEDIA 2 años 1 meses 23 días
CAPACIDAD DE PAGO UTIL. MEDIA - DEPREC. 400,099.00
 9 10
1,200,000.00 1,200,000.00
267,335.71 267,335.71
932,664.29 932,664.29
24,000.00 24,000.00
908,664.29 908,664.29
272,599.29 272,599.29
636,065.00 636,065.00

9 10
1,200,000.00 1,200,000.00
265,850.00 265,850.00
934,150.00 934,150.00
24,000.00 24,000.00

205.71
909,944.29 910,150.00
272,983.29 273,045.00
636,961.00 637,105.00

24,000.00 24,000.00
CON FINANC
0.15 1.77 22.99
0.45 2 años 1 meses 23 días

0.20 2.39 11.66

2.20 2 años 2 meses 12 días
2 años 2 meses 12 días
391,586.89
 FLUJO DE CAJA ECONÓMICO
AÑOS 0 1 2 3 4 5 6 7 8 9 10
RUBRO
INGRESOS
INGRESO VENTAS 660,000.00 720,000.00 720,000.00 840,000.00 840,000.00 960,000.00 960,000.00 960,000.00 1,200,000.00 1,200,000.00
VALOR LIBROS (TERRENO) 80,000.00
VALOR RESIDUAL
EDIFICIO 30,000.00
MAQUINARIA 49,000.00
EQ. COMPUTO 3,000.00 3,000.00 3,000.00 3,000.00
VALOR VENTA VEHÍCULO 1,600.00 1,600.00
VALOR DE RECUPERACION
(FALTA DEPRECIAR)
EDIFICIOS 180,000.00
MAQUINARIA 0.00
EQ. COMPUTO 13,500.00
VEHÍCULO 7,428.57
CAPITAL DE TRABAJO 100% 13,388.99
TOTAL INGRESO 0.00 660,000.00 720,000.00 723,000.00 840,000.00 840,000.00 963,000.00 960,000.00 960,000.00 1,204,600.00 1,577,917.56

EGRESOS
APORTE PROPIO 987,605.65
COSTO DE PRODUCCION 184,850.00 193,850.00 193,850.00 213,335.71 213,335.71 231,335.71 231,335.71 231,335.71 267,335.71 267,335.71
(DEPRECIACION) 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00
VEHÍCULO 1,485.71 1,485.71 1,485.71 1,485.71 1,485.71 1,485.71 1,485.71
ADQUISICIÓN DE EQ COMPUTO 15,000.00 15,000.00 15,000.00
ADQUISICIÓN DEL VEHÍCULO 12,000.00 12,000.00
GASTOS ADM. Y VENTAS 21,320.00 26,720.00 31,120.00 31,120.00 31,120.00 24,000.00 24,000.00 24,000.00 24,000.00 24,000.00
(AMORT. INTANGIBLES) 14,710.00 14,710.00 14,710.00 14,710.00 14,710.00 14,710.00 14,710.00 14,710.00
IMPUESTOS 136,149.00 149,829.00 148,509.00 178,663.29 178,663.29 211,399.29 211,399.29 211,399.29 272,599.29 272,599.29
TOTAL EGRESOS 987,605.65 267,759.00 295,839.00 325,919.00 359,073.29 347,073.29 405,689.29 390,689.29 390,689.29 517,599.29 514,599.29

I-E = FCE -987,605.65 392,241.00 424,161.00 397,081.00 480,926.71 492,926.71 557,310.71 569,310.71 569,310.71 687,000.71 1,063,318.27

FLUJO DE CAJA FINANCIERO

AÑOS 0 1 2 3 4 5 6 7 8 9 10
RUBRO
INGRESOS
INGRESO VENTAS 660,000.00 720,000.00 720,000.00 840,000.00 840,000.00 960,000.00 960,000.00 960,000.00 1,200,000.00 1,200,000.00
VALOR LIBROS (TERRENO) 80,000.00
VALOR RESIDUAL
EDIFICIO 30,000.00
MAQUINARIA 49,000.00
EQ. COMPUTO 3,000.00 3,000.00 3,000.00 3,000.00
VALOR VENTA DEL AUTOMOVIL 1,600.00 1,600.00
VALOR DE RECUPERACION

EDIFICIOS 180,000.00
MAQUINARIA 0.00
EQ. COMPUTO 13,500.00
VEHÍCULO 7,428.57
CAPITAL DE TRABAJO 100% 13,327.08
TOTAL INGRESO 0.00 660,000.00 720,000.00 723,000.00 840,000.00 840,000.00 963,000.00 960,000.00 960,000.00 1,204,600.00 1,577,855.65

EGRESOS
APORTE PROPIO 687,605.65
COSTO DE PRODUCCION 184,850.00 193,850.00 193,850.00 211,850.00 211,850.00 229,850.00 229,850.00 229,850.00 265,850.00 265,850.00
(DEPRECIACION) 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00 59,850.00
VEHÍCULO 1,485.71
GASTOS ADM. Y VENTAS 21,320.00 26,720.00 31,120.00 31,120.00 31,120.00 24,000.00 24,000.00 24,000.00 24,000.00 24,000.00
(AMORT. INTANGIBLES) 16,390.00 16,390.00 16,390.00 16,390.00 16,390.00 16,390.00 16,390.00 16,390.00
GASTOS FINANCIEROS 8,400.00 24,000.00 21,000.00 18,000.00 15,000.00 12,000.00 9,000.00 6,000.00 3,000.00
INTERES VEHICULO 720.00 617.14 514.29 411.43 308.57 205.71
ADQ . EQUIPO COMPUTO 15,000.00 15,000.00 15,000.00
ADQ. VEHICULO 12,000.00 12,000.00
IMPUESTOS 128,949.00 143,529.00 143,109.00 174,393.00 175,323.86 208,990.71 209,921.57 210,852.43 272,983.29 273,045.00

AMORT. DEUDA 37,500.00 37,500.00 37,500.00 37,500.00 37,500.00 37,500.00 37,500.00 37,500.00
AMORT. VEHICULO 1,714.29 1,714.29 1,714.29 1,714.29 1,714.29 1,714.29
TOTAL EGRESOS 696,005.65 320,379.00 346,359.00 362,339.00 408,057.29 393,885.29 450,329.29 433,157.29 430,985.29 519,903.29 513,559.29

I-E = FCF -696,005.65 339,621.00 373,641.00 360,661.00 431,942.71 446,114.71 512,670.71 526,842.71 529,014.71 684,696.71 1,064,296.37
 FLUJOS DE CAJA

MONTO
450,000.00

350,000.00

250,000.00

150,000.00

50,000.00

-50,000.00 0 1 2 3 4 5 6 7 8 9 10

-150,000.00

-250,000.00

-350,000.00

-450,000.00

-550,000.00
AÑOS

FLUJO DE CAJA ECONÓMICO FLUJO DE CAJA FINANCIERO

 RESUMEN ECONÓMICO FINANCIERO
PUNTO DE EQUILIBRIO 102,747.90 101,000.00
RENTABILIDAD 0.47 0.45
TIEMPO DE PAGO 2.15 2.20
CAPACIDAD DE PAGO 400,099.00 391,586.89
VALOR ACTUAL NETO 2,104,153.58 1,990,743.39
TASA INTERNA DE RETORNO 44% 55%
BENEFICIO - COSTO 3.13 3.91
EVALUACION ECONOMICA 11% INTERSECCION DEL VAN Y TIR Datos para análisis del VAN y TIR
AÑOS FCE FA VALOR ACTUAL Variacion TIR
0 -987,605.65 1.0000 -987,605.65 VAN
VAN Y TIR ECONOMICO -24.00% 20.21%
1 392,241.00 0.9026 354,056.25 1,000,000.00 -21.00% 23.21%
2 424,161.00 0.8148 345,596.46 -18.00% 26.21%
800,000.00
3 397,081.00 0.7355 292,036.36 -15.00% 29.21%
4 480,926.71 0.6639 319,268.44 600,000.00 -12.00% 32.21%
5 492,926.71 0.5992 295,378.39 -9.00% 35.21%
400,000.00
6 557,310.71 0.5409 301,448.43 -6.00% 38.21%
7 569,310.71 0.4882 277,961.26 200,000.00 -3.00% 41.21%
8 569,310.71 0.4407 250,901.66 Tasa_inicial =$L$18 0.00% 44.21%
0.00
9 687,000.71 0.3978 273,294.34 3.00% 47.21%
10 1,063,318.27 0.3591 381,817.65 -200,000.00 6.00% 50.21%
VAN 2,104,153.58 -400,000.00 9.00% 53.21%
12.00% 56.21%
1% 1 % 1 % 1 % 1 % 1 % 1 % 1% 1 % 1 % 1 % 1 % 1 % 1 % 1% 15.00% 59.21%
.2 6.2 9.2 2.2 5.2 8.2 1.2 4.2 7.2 0.2 3.2 6.2 9.2 2.2 5.2
TIR ECONOMICO 44.21% 23 2 2 3 3 3 4 4 4 5 5 5 5 6 6 18.00% 62.21%
TIR
BENEFICIO/COSTO 3.13 21.00% 65.21%

EVALUACION FINANCIERA 12% VAN Y TIR FINANCIERO

VAN
AÑOS FCF FA VALOR ACTUAL 1,400,000.00 INTERSECCION DEL VAN Y TIR
0 -696,005.65 1.0000 -696,005.65 1,200,000.00 Datos para análisis del VAN y TIR
1 339,621.00 0.8929 303,233.04 Variacion TIR
1,000,000.00
2 373,641.00 0.7972 297,864.32 -35.00% 20.30%
800,000.00
3 360,661.00 0.7118 256,711.38 -30.00% 25.30%
4 431,942.71 0.6355 274,507.40 600,000.00 -25.00% 30.30%
5 446,114.71 0.5674 253,137.47 400,000.00 -20.00% 35.30%
6 512,670.71 0.5066 259,734.94 200,000.00 -15.00% 40.30%
7 526,842.71 0.4523 238,316.89 0.00 -10.00% 45.30%
8 529,014.71 0.4039 213,660.17 -200,000.00 -5.00% 50.30%
9 684,696.71 0.3606 246,908.50 Tasa_inicial =$L$18 0.00% 55.30%
-400,000.00
10 1,064,296.37 0.3220 342,674.95 5.00% 60.30%
VAN 1,990,743.39 0 % 0 % 0 % 0 % 0% 0 % 0 % 0 % 0 % 0 % 0% 0 % 0 % 0 % 0% 10.00% 65.30%
.3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3
20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 15.00% 70.30%
TIR
20.00% 75.30%
TIR FINANCIERO 55.30% 25.00% 80.30%
BENEFICIO/COSTO 3.91 30.00% 85.30%
35.00% 90.30%
Datos para análisis del VAN y TIR
VAN
1,059,286.00
839,991.19
656,441.35
501,507.09
369,677.29
256,655.01
159,062.38
74,222.97
0.00
-65,324.90
-123,143.35
-174,589.88
-220,595.45
-261,928.71
-299,228.06
-333,026.78

Datos para análisis del VAN y TIR

VAN
1,166,739.35
845,868.22
606,183.95
423,076.99
280,294.60
166,860.08
75,203.24
0.00
-62,563.25
-115,265.39
-160,164.08
-198,805.91
-232,369.80
-261,766.24
-287,707.03