FLUJO DE CAJA

Concepto
Produccin en unidades
Precio unitario

Tasa exigida :
.0

Ingreso por Ventas

Venta de Activo
Costos Variables
Costos de Fabricacin Fijos
Comisiones por Ventas (2% Ventas)
Gastos de Administracin y Vtas.
Depreciacin
Amortizacin Intangible
Valor Libro Activo Fijo en Venta
Utilidad antes de Impuesto
Impuesto (15%)
Utilidad neta despus de Impuesto
Depreciacin
Amortizacin Intangible
Valor Libro Activo Fijo en Venta
Inversin Inicial en Activo Fijo
(120,000,000)
Inversin Inicial Gastos Puesta en Marcha(1,200,000)
Inversin de Reemplazo
Inversin de Ampliacin

Inversin capital de Trabajo

Valor de desecho
Flujo de Caja
Flujo
tasa de descuento
Flujos Netos Actualizados
V.A.N.
T.I.R.
Clculo del Costo Variable
Costos Variables Mano de Obra
Costos Variables Materiales
Costos Variables Costos Indirectos
Total Costos Variables

12%
1
50,000
500

2
50,000
500

3
50,000
600

4
50,000
600

5
50,000
600

6
60,000
600

7
60,000
600

25,000,000

25,000,000

30,000,000

30,000,000

30,000,000

36,000,000

36,000,000

(3,000,000)
(2,000,000)
(500,000)
(800,000)

(3,000,000) (3,000,000) (3,000,000) (3,000,000) (3,420,000) (3,420,000)

(2,000,000) (2,000,000) (2,000,000) (2,000,000) (2,200,000) (2,200,000)
(500,000)
(600,000)
(600,000)
(600,000)
(720,000)
(720,000)
(800,000)
(800,000)
(800,000)
(800,000)
(820,000)
(820,000)

(7,800,000)
(400,000)

(7,800,000) (7,800,000) (7,800,000) (7,800,000) (9,200,000) (9,200,000) (9,200,000) (9,200,000) (9,200,000)

(400,000)
(400,000)
(400,000)
(400,000)
(2,000,000)
10,500,000 15,400,000 15,400,000 15,400,000 19,640,000 19,640,000 20,140,000 19,640,000 19,640,000
(1,575,000) (2,310,000) (2,310,000) (2,310,000) (2,946,000) (2,946,000) (3,021,000) (2,946,000) (2,946,000)
8,925,000 13,090,000 13,090,000 13,090,000 16,694,000 16,694,000 17,119,000 16,694,000 16,694,000
7,800,000
7,800,000
7,800,000
7,800,000
9,200,000
9,200,000
9,200,000
9,200,000
9,200,000
400,000
400,000
400,000
400,000
2,000,000

10,500,000
(1,575,000)
8,925,000
7,800,000
400,000

10
60,000
600

36,000,000 36,000,000 36,000,000

2,500,000
(3,420,000) (3,420,000) (3,420,000)
(2,200,000) (2,200,000) (2,200,000)
(720,000)
(720,000)
(720,000)
(820,000)
(820,000)
(820,000)

(10,000,000)

(50,000)
17,125,000

(124,350,000) 17,125,000
1.00
1.12
(124,350,000)

9
60,000
600

(20,000,000)

(3,150,000)
(124,350,000)

8
60,000
600

17,075,000
17,075,000
1.25

(380,000)
21,290,000
21,290,000
1.40
15,153,801

21,290,000
21,290,000
1.57
13,530,180

910,000
910,000
1.76
516,358

25,894,000
25,894,000
1.97
13,118,706

25,894,000
25,894,000
2.21
11,713,131

18,319,000
18,319,000
2.48
7,398,737

139,116,667
25,894,000 165,010,667
25,894,000 165,010,667
2.77
3.11

15,290,179

13,612,085

9,337,636

53,129,019

(1,000,000)
(1,750,000)
(250,000)
(3,000,000)

(1,000,000) (1,000,000) (1,000,000) (1,000,000) (1,200,000) (1,200,000) (1,200,000) (1,200,000) (1,200,000)

(1,750,000) (1,750,000) (1,750,000) (1,750,000) (1,920,000) (1,920,000) (1,920,000) (1,920,000) (1,920,000)
(250,000)
(250,000)
(250,000)
(250,000)
(300,000)
(300,000)
(300,000)
(300,000)
(300,000)
(3,000,000) (3,000,000) (3,000,000) (3,000,000) (3,420,000) (3,420,000) (3,420,000) (3,420,000) (3,420,000)

28,449,832
15.77%

CUADRO DE INVERSIONES ACTIVO FIJO

Concepto
Valor
Terrenos
12,000,000
Obra Fsica Inicial
60,000,000
Obra Fsica Ampliacin
Maquinaria Inicial (a)
38,000,000
Maquinaria Inicial (b)
10,000,000
Maquinaria de Reemplazo
Maquinaria Ampliacin
Inversin
120,000,000
CUADRO DE INVERSIONES INTANGIBLES
Concepto
Valor
Intangibles
1,200,000
Inversin
1,200,000

12,000,000

8,000,000
20,000,000

CUADRO DE DEPRECIACION ACTIVO FIJO

Concepto
Valor
Residual Valor Depreciable Vida Util
Terrenos
12,000,000
12,000,000
Obra Fsica Inicial
60,000,000
60,000,000
20
Obra Fsica Ampliacin
12,000,000
12,000,000
20
Maquinaria Inicial (a)
38,000,000
38,000,000
10
Maquinaria Inicial (b)
10,000,000
10,000,000
10
Maquinaria de Reemplazo
10,000,000
10,000,000
10
Maquinaria Ampliacin
8,000,000
8,000,000
10
Depreciacin total
150,000,000
150,000,000
CUADRO DE AMORTIZACION DE INTANGIBLES
Concepto
Valor
Residual Valor Amortizable Vida Util
Intangibles
2,000,000
2,000,000
5
CALCULO DEL CAPITAL DE TRABAJO
Seis meses de costo total desembolsable Inicial
Concepto
Valor
Mensual

6 meses

3,000,000 3,000,000

3,000,000 3,000,000

3,800,000 3,800,000
1,000,000 1,000,000

3,800,000 3,800,000
1,000,000 1,000,000

7,800,000 7,800,000

7,800,000 7,800,000

1
400,000

2
400,000

3
400,000

4
400,000

Costos Variables
3,000,000 250,000
Costos de Fabricacin Fijos
2,000,000 166,667
Comisiones por Ventas (2% Ventas)
500,000 41,667
Gastos de Administracin y Vtas.
800,000 66,667
Capital de Trabajo

1,500,000
1,000,000
250,000
400,000
3,150,000

Seis meses de costo total desembolsable Aumento de Produccin

Concepto
Valor
Mensual
6 meses
Costos Variables
3,000,000 250,000
1,500,000
Costos de Fabricacin Fijos
2,000,000 166,667
1,000,000
Comisiones por Ventas (2% Ventas)
600,000 50,000
300,000
Gastos de Administracin y Vtas.
800,000 66,667
400,000
Capital de Trabajo
3,200,000

Anterior
1,500,000
1,000,000
250,000
400,000
3,150,000

Variacin

Seis meses de costo total desembolsable Ampliacin de Produccin

Concepto
Valor
Mensual
6 meses
Costos Variables
3,420,000 285,000
1,710,000
Costos de Fabricacin Fijos
2,200,000 183,333
1,100,000
Comisiones por Ventas (2% Ventas)
720,000 60,000
360,000
Gastos de Administracin y Vtas.
820,000 68,333
410,000
Capital de Trabajo
3,580,000

Anterior
1,500,000
1,000,000
300,000
400,000
3,200,000

Variacin
210,000
100,000
60,000
10,000
380,000

CALCULO DEL VALOR DE DESECHO

Flujo del ao 10 sin valor de desecho
(Menos) Depreciacin Anual
Sub - total

25,894,000
(9,200,000)
16,694,000

Sub - total
Tasa de retorno exigida

16,694,000
12%

50,000
50,000

139,116,667

10

10

10,000,000
10,000,000

10

3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

600,000 600,000 600,000 600,000 600,000
3,800,000 3,800,000 3,800,000 3,800,000 3,800,000 3,800,000
1,000,000 1,000,000 1,000,000 1,000,000
1,000,000 1,000,000
800,000 800,000 800,000 800,000 800,000
7,800,000 9,200,000 9,200,000 9,200,000 9,200,000 9,200,000

5
400,000