a.

AAI = Average Age of Inventory

= Inventory x 360 hari = Rp 30,000,000 x 360 = 24 hari
COGS Rp 450,000,000

ACP = AR x 360 hari = Rp 45,000,000 x 360 = 30 hari

Revenue Rp 540,000,000

APP = AP = Rp 12,000,000 = 16 hari

Average Purchase/Day Rp 750,000

CCC = Cash Conversion Cycle = AAI + ACP - APP

= 24 + 30 - 16 = 38.0

b. AAI dipercepat 10 hari = 24 - 10 = 14

ACP dpercepat 5 hari = 30 - 5= 25
AAP tetap = 16
CCC = AAI + ACP - AAP = 23
 Atau bisa dengan cara :
CCC = AAI + ACP - AAP - 10 - 5 = 23.0

c. Pengeluaran Kas/Hari = 15,000,000

Oppurtunity Cost of Investment = 10% / year
Besarnya Investasi = CCC x Average Daily Expenditure
= 38.0 x 15,000,000
= 570,000,000

Oppurtunity Loss Investasi = 10% x 570,000,000

= 57,000,000

Total = 23.0 x 15,000,000

= 345,000,000 + 57,000,000
= 402,000,000

Jadi pada perhitungan ini

Besarnya biaya atas target tersebut yaitu 570.000.000 - 402.000.000
= 168,000,000
karena dengan mengeluarkan kas lebih cepat dapat mengurangi Oppurtunity Cost atas investasi yang dapat dilakukan
asi yang dapat dilakukan
 1 Additional Profit from Sales
= (Q1 - Q0) x (P -Vc)
= ( {120.000*12%} - 120.000) x ($50 - {$50 * 60%} )
= ( 134.400 - 120.000) x ($50 - $30 )
= 14.400 x $20 = 288,000

2 Cost of Marginal Investment in AR

Avg Investment Presently (10% Discount)
$30 x 120.000 = 360,000
10

Average Investment Proposed (15% Discount)

$30 x 134.400 = 504,000
8

Reduction in AR = - 144,000
Cost Savings from reduced Investment
Ar Investment (15% x -144.000) - 21,600

Cost of Discount (15% x 40% x 134.400 x 8) - 64,512

Cost of Marginal Bad Debts
Under Present (6% x $50 x 120.000) 360,000
Under Proposed (4% x $50 x 134.400) 268,800
Selisih 91,200

Net Profit from Implementation of Proposed Plan 293,088

Kesimpulan
=> Perubahan kebijakan tersebut layak dilaksanakan karena menambah
Net Profit sebesar $ 293.088
Dik :
Jumlah Utang = 9,750,000,000.00 + 5,500,000,000.00 = 15,250,000,000.00

Jawab
Fixed Rate = 2% + 10,5% = 12.50%
Total Interest = 15,250,000,000 x 12.50% x 270 / 360
= 1,429,687,500

Interest Rate = 1,429,687,500 = 9.38%

15,250,000,000

Effective Annual Interest Rate (EAR) period = 360 /

EAR = [( 1 + Interest Rate) ^ period] - 1 = 360 /
= [( 1 + 0,09375) ^ 1,33 ] - 1 = 360 /
= [( 1,09375) ^1,33 ] - 1 = 1.33333333333333
= 1,12658 - 1
= 0.12658
= 12.6580%

Floating Rate

+ 9 hari + 9 hari + 90 hari + 135 hari

 23-Dec-21 1-Jan-22 10-Jan-22 10-Mar-22 25-Jul-22
10.50% 14% 12% 11.50% 9%

Dik : Pinjaman 9 bulan = 23 Des 2021 - 23 Sept 2021 = 270 hari

9 hari 9 = 10,5% + 1,5% = 12% x 9/ 360 =
9 hari 18 = 14% + 1,5% = 15.50% x 9/ 360 =
90 hari 108 = 12% + 1,5% = 13.50% x 90 / 360 =
135 hari 243 = 11,5% + 1,5% = 13% x 135 / 360 =
27 270 = 9% + 1,5% = 10.50% x 27 / 360 =

Total Interest = 15,250,000,000 x 9.7250%

= 1,483,062,500

Effective Annual Interest Rate (EAR) period = 360 /

EAR = [( 1 + Interest Rate) ^ period] - 1 = 360 /
= [( 1 + 0,09725) ^ 1,33 ] - 1 = 360 /
= [( 1,09725) ^1,33 ] - 1 = 1.33333333333333
= 1,131375 - 1
= 0.131375
= 13.1375%

Compare EAR Fixed Rate Floating Rate

12.6580% < 13.1375%

Kesimpulan
=> Sebaiknya memilih Fixed Rate karena memiliki EAR yang lebih rendah dibandingkan Floating Rate
 Reference di Ebook

Lama peminjaman
(30 hari *9 bulan)
270
25-Jul-22 Akhir 2022
9%

0.3000%
0.3875%
3.3750%
4.8750%
0.7875%
9.7250%

Lama peminjaman
(30 hari *9 bulan)
270
Initial Investment Rp 500,000,000

Asset Expected Return Nilai Investasi Proporsi

A 12% Rp 250,000,000 0.5
B 18% Rp 100,000,000 0.2
C 8% Rp 150,000,000 0.3
Total Rp 500,000,000

a. Expected Annual Return

= (Proporsi A x Expected Return A) + (Proporsi B x Expected Return B) + (Proporsi C x Expected Return C)
= (0,5 x 12%) + (0,2 x 18%) + (0,3 + 8%) = 0.12 = 12%

c. Standar Deviasi = S
b. Varians = S^2
S= 5.0990% S^2 = 0.26%
0.05099 0.0026 0.26%

d. Koefisien Variasi = Standar Deviasi = 5.0990% = 42.4917%

Rata-rata 12%

0.05099 = 0.424916666666667 42%

0.12000