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COST ANALYSIS AND PROFIT CALCULATION OF CV LUMINTU: A BATIK MANUFACTURING CASE STUDY IN PEKALONGAN Faikar, Fahd; Kitri, Mandra Lazuardi
Journal of Business and Management Vol 7, No 3 (2018)
Publisher : Journal of Business and Management

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Abstract. Background : In many parts of Indonesia, many small and medium-sized manufacturing industries are the main source of livelihood for the population. Not a few of them are out of business because they are not able to sustain their lives every month (Rayadiani, 2015). In Pekalongan, the city is very famous for its batik is a lot of textile industry manufacturing woven fabric ATBM (Investor Daily, 2018) (Non-Woven Weaving Machine) and traditional batik is still able to survive by relying on uniqueness that cannot be duplicated by modern machines (Wiji, 2013). CV. Lumintu is a small-scale manufacturing medium size saw and the production produced is not bulk and not quite customized. Lumintu Workshop is owned by R Asyfa Fuadi. In addition to producing batik orders, R Asyfa Fuadi also sells batik products in a shape of fabric sheets with a fairly easy motive through a network of batik traders in Pekalongan and distributed almost throughout Indonesia. Problem: In this case, many manufacturing firms, let alone with traditional and small scale, do not have a good accounting and financial recording system. Rewards (pricing) made only on the basis of costs incurred for the product alone or guessing because of the absence of good calculations in the cost line. CV. Lumintu only records costs by guesswork only. With conditions that occur, the calculation of prices and profits are almost certainly wrong and can be one of the main causes almost bankruptcy of this traditional company. By doing cost analysis in this traditional manufacturing industry, the author can know and classify all expenses incurred during business process run by CV. Lumintu in everyday life. Apart from calculating the cost incurred, the author can also calculate and know the unit cost and also calculate the breakeven point of each product produced by CV. Lumintu. Methodology: The data collection will be done through the quantitative methodology. In this step, the researcher will have the calculation. Quantitative Research is the methodical correct examination of unmistakable ponders by methods for genuine, logical or computational strategies (Given, 2008). The data collection gained from the primary and secondary data, the primary data from CV. Lumintu which is from the owner itself, and secondary data woud be gained and used as a benchmark to the primary data. Result:The result of this research are (1) the old unit cost is Rp 61.762.233 and the new unit cost is Rp 66.693.394; (2) net income after tax is Rp. 73,548,030, and; (3) a new model of financial statement has to be made by CV Lumintu.Key words: Batik, Manufacturing, Financial Statement, Cost Analysis, Profit Calculation

Assessing The Financial Feasibility of XYZ Company New Branch Wihardi, Michael Justin; Lazuardi, Mandra Kitri
Journal of Business and Management Vol 8, No 3 (2019)
Publisher : Journal of Business and Management

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Indonesia is the 4th most populous country in the world. The big market size in Indonesia makes Indonesia an attractive target for companies engaged in the food and beverage industry. XYZ company is one of the companies engaged in the food and beverage industry. Seeing the vast market in Indonesia, XYZ company wants to create a new branch in order to reach a wider market. This study aims to assess the feasibility study of the branch to be built by the XYZ Company. Feasibility studies are studies conducted to assess whether a project is profitable to make. This research begins by conducting projections from financial statements to estimate the company's financial condition in the future. This research was made using Capital Budgeting Analysis. The Capital Budgeting Analysis method uses indicators such as Net Present Value (NPV), Internal Rate of Return (IRR) and Payback Period. This study also aims to assess risk in capital budgeting by using sensitivity analysis and simulation analysis. Investment projects carried out by XYZ Company can be categorized as feasible because the Net Present Value (NPV) of the project to be executed is positively valued at IDR 2,691,090,310. In addition, the payback period of the XYZ Company investment project can be achieved within 1 year and 257 days, the period is faster than the maximum return period of 5 years. The Internal Rate of Return owned by XYZ Company is 67%, the value is smaller than the Weighted Average Cost of Capital (WACC) value of 23%. The calculation of sensitivity analysis and simulation analysis shows that the project to be made by XYZ Company has a low risk. It can be seen from XYZ Company’s project investment has a 100% probability above 0. According to the Monte Carlo calculation, the minimum Net Present Value (NPV) obtained by XYZ Company will be IDR 147,329,263 and the maximum NPV obtained is IDR 5,658,991,854 with a mean of IDR 2,900,399,432.

Optimal Capital Structure of PT Garuda Indonesia Tbk. Abdillah, Muhammad Bisma; Kitri, Mandra Lazuardi
Journal of Business and Management Vol 9, No 2 (2020)
Publisher : Journal of Business and Management

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Abstract. PT Garuda Indonesia Tbk. is a well-known Indonesian national airline and has several subsidiaries such as PT Aerowisata, PT Sabre Travel Network Indonesia, PT Garuda Maintenance Facility Aero Asia, PT Citilink Indonesia, PT Aero Systems Indonesia, PT Gapura Angkasa and Garuda Indonesia Holiday France. As of April 2020, most of the airline companies has lost many passengers due to the traveling restriction from the government to avoid disease transmission of Coronavirus pandemic. Since then, PT Garuda Indonesia Tbk. should stop some flights to a certain domestic areas and foreign countries and also reduce the amount of passenger up to 50% and do a medical check for all passengers in every flight. Even more, in June 3, 2020, PT Garuda Indonesia is required to pay a maturing debt of USD 500 million to global sukuk limited and government plans to provide a loan of IDR 8.5 trillion or as much as USD 600 million at an exchange rate of IDR 14,000 as of assumed exchange rate in 2020. Considering the recent condition of restriction of flights, reduced amount of passenger, and an increased cost of medical check, the author do a research into this company to determine what company action will PT Garuda Indonesia Tbk. should take. In order to decide whether the company accept the loan or not, the author analyses the current weighted average cost of capital of PT Garuda Indonesia Tbk. and searches the optimal capital structure so as to compare the debt and equity proportion of the current and optimal condition of them. Also, the author find the best alternative financing strategy the company had to take. PT Garuda Indonesia Tbk. currently has 76% of debt and 24% of equity, where the cost of capital is 9.06% and through WACC analysis, the authors have found that the optimal capital structure that PT Garuda Indonesia Tbk. must have to finance the maturing debt so that the value of the company at maximum, and should consist of USD 1,583,506,477 of debt and USD 1,404,241,592 of equity, which is 53% of debt and 47% of equity.Keywords: Weighted Average Cost of Capital, Optimal Capital Structure, PT Garuda Indonesia Tbk.

Impact Of Stock Repurchase Announcement On Indonesia Stock Market Reaction 2015-2019 Mandra Lazuardi Kitri; Cristian Eliezer Manurung
Jurnal Ilmu Sosial Politik dan Humaniora (Jisora) Vol 3 No 2 (2020): Jurnal Ilmu Sosial Politik dan Humaniora
Publisher : Fakultas Ilmu Sosial dan Ilmu Politik Universitas Garut

The negative global sentiment, Corona Virus Disease 2019 (COVID-19) caused several listed companies in Indonesia to conduct a stock repurchase in the hope of maintaining and increasing the company's stock price. The research objective is to analyze the effect of stock repurchase announcements on market reactions that are reflected in abnormal return and trading volume activity in 2015-2019 as a guide for companies to make decisions in the present and the future regarding the same issue. This research uses a sample of 64 companies listed on the Indonesia Stock Exchange (IDX) during the observation period. This study uses the event study method with the significance of the hypothesis test of 0.05. The results showed that there is no significant difference between before and after stock repurchase announcements for both variables. This is caused by the presence of negative sentiment throughout the observation period such as the Brexit tragedy, elections in the US won by Donald Trump, and the issue of the trade war by the US-China, this makes the market does not yet have full trust in the Indonesian capital market. Based on the results of the study, it can be concluded that the stock repurchase announcement did not have a significant effect on the market reaction.

Assessment of Investment Plan and Financing Strategy for Hobbyist-Based Marketplace as a New Business from PT XYZ Putri Nadiya Intan Safira; Mandra Lazuardi Kitri
Jurnal Ilmu Sosial Politik dan Humaniora (Jisora) Vol 4 No 1 (2021): Jurnal Ilmu Sosial Politik dan Humaniora
Publisher : Fakultas Ilmu Sosial dan Ilmu Politik Universitas Garut

PT XYZ is a successful technology enterprise, intends to open a new business line in e-commerce with unique selling propositions as a hobbyist-based marketplace. The marketplace, ABC, has built website and application generating event registration, communities, and articles. ABC still needs to reduce bugs and acquiring sellers to sell their products on. ABC needs to seek investments to fulfill the required financing at IDR 245,000,000 since PT XYZ needs to reallocate the money to another business. It firstly needs to determine the financial feasibility study of ABC with the capital budgeting method of NPV, IRR, and Payback Period. The amount of NPV at IDR 500,722,291.51, IRR at 13.32%, and PP at 4 years 2 months and 19 days are acceptable. The risk assessment with sensitivity analysis and Monte Carlo simulation determine the accounts that are risked by the assumption from the owners, the high risk are on Bike Selling quantity and COGS also Salary (Full-Time) with the probability of positive IRR at 97.80%. ABC wants to have financing schemes of 65%, 45%, and 25% equity where PT XYZ will give IDR 25,000,000 and intangible asset of IDR 61.600.000, this makes the 25% equity cannot be used, therefore it will be changed to 35.35% equity. With total share outstanding of 10.000 shares, the sales price of A, B, and C are IDR 46,199.55, IDR 43,803.40, and IDR 42,771.43 respectively. Capital structure analysis is needed to get the best value of ownership, yet, all alternatives can be used for attracting investors.

Impact Of Stock Repurchase Announcement On Indonesia Stock Market Reaction 2015-2019 Mandra Lazuardi Kitri; Cristian Eliezer Manurung
Jurnal Ilmu Sosial Politik dan Humaniora (JISORA) Vol 3 No 2 (2020): Jurnal Ilmu Sosial Politik dan Humaniora
Publisher : Fakultas Ilmu Sosial dan Ilmu Politik - Universitas Garut

The negative global sentiment, Corona Virus Disease 2019 (COVID-19) caused several listed companies in Indonesia to conduct a stock repurchase in the hope of maintaining and increasing the company's stock price. The research objective is to analyze the effect of stock repurchase announcements on market reactions that are reflected in abnormal return and trading volume activity in 2015-2019 as a guide for companies to make decisions in the present and the future regarding the same issue. This research uses a sample of 64 companies listed on the Indonesia Stock Exchange (IDX) during the observation period. This study uses the event study method with the significance of the hypothesis test of 0.05. The results showed that there is no significant difference between before and after stock repurchase announcements for both variables. This is caused by the presence of negative sentiment throughout the observation period such as the Brexit tragedy, elections in the US won by Donald Trump, and the issue of the trade war by the US-China, this makes the market does not yet have full trust in the Indonesian capital market. Based on the results of the study, it can be concluded that the stock repurchase announcement did not have a significant effect on the market reaction.

Assessment of Investment Plan and Financing Strategy for Hobbyist-Based Marketplace as a New Business from PT XYZ Putri Nadiya Intan Safira; Mandra Lazuardi Kitri
Jurnal Ilmu Sosial Politik dan Humaniora (JISORA) Vol 4 No 1 (2021): Jurnal Ilmu Sosial Politik dan Humaniora
Publisher : Fakultas Ilmu Sosial dan Ilmu Politik - Universitas Garut

PT XYZ is a successful technology enterprise, intends to open a new business line in e-commerce with unique selling propositions as a hobbyist-based marketplace. The marketplace, ABC, has built website and application generating event registration, communities, and articles. ABC still needs to reduce bugs and acquiring sellers to sell their products on. ABC needs to seek investments to fulfill the required financing at IDR 245,000,000 since PT XYZ needs to reallocate the money to another business. It firstly needs to determine the financial feasibility study of ABC with the capital budgeting method of NPV, IRR, and Payback Period. The amount of NPV at IDR 500,722,291.51, IRR at 13.32%, and PP at 4 years 2 months and 19 days are acceptable. The risk assessment with sensitivity analysis and Monte Carlo simulation determine the accounts that are risked by the assumption from the owners, the high risk are on Bike Selling quantity and COGS also Salary (Full-Time) with the probability of positive IRR at 97.80%. ABC wants to have financing schemes of 65%, 45%, and 25% equity where PT XYZ will give IDR 25,000,000 and intangible asset of IDR 61.600.000, this makes the 25% equity cannot be used, therefore it will be changed to 35.35% equity. With total share outstanding of 10.000 shares, the sales price of A, B, and C are IDR 46,199.55, IDR 43,803.40, and IDR 42,771.43 respectively. Capital structure analysis is needed to get the best value of ownership, yet, all alternatives can be used for attracting investors.

Y - Generation and Its Supply Chain Strategy for Housing Affordability: An Evidence From Indonesia Aswin Rahadi, Raden; Putri Pradana, Dian; Nita, Arfenia; Lazuardi Kitri, Mandra; Anny Nainggolan, Yunieta; Rahmatsyah Putranto, Nur Arief; Muhammad, Zikri
International Journal of Supply Chain Management Vol 9, No 5 (2020): International Journal of Supply Chain Management (IJSCM)
Publisher : ExcelingTech

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59160/ijscm.v9i5.5156

Y - Generation of Indonesian has a lack of affordability in purchasing a house. It has become a much-discussed issue and attracted the researchers attention, both in terms of preferences, indexes, and solutions to deal with the problem. Generation Ys preferences in purchasing a house were also investigated in this research to understand which preferences will affect the demand and price of the houses because price is also an indicator used to identify the affordability. In addition, those preferences also will help some parties involved in housing transactions to create a strategy that will increase the affordability index. The data in this research is gathered using mixed methods in which the qualitative is used in the 5 interviews with the property experts to gain the questionnaire items, and the questionnaire as the quantitative method with 206 respondents limited to Generation Y who have fixed income every month and are willing to have a house in Jakarta. The data then further processed using PLS-SEM analysis. This research finally found that Generation Ys preferences are divided into four categories which are product specifications, future considerations, supplemental factors, and dweller characteristics (stated in sequence from the most influential to the least influential). In terms of affordability, according to five banks with lowest interest rate, BTN as well BRI and Mandiri have become the most affordable bank for Generation Y to do KPR because the indexes were 4.41% (can afford) and 95.59% (cannot afford) or the highest compared to BJB and BCA.

Impact of Mobile Banking Usage Intensity On Idx-Listed Banks' Performance Juanda, Kadek Yoga Ade; Kitri, Mandra Lazuardi
Journal Integration of Social Studies and Business Development Vol. 2 No. 2 (2024)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jissbd.v2i2.254

This study investigates the impact of mobile banking usage intensity on the performance of banks listed on the Indonesia Stock Exchange (IDX), specifically focusing on Return on Assets (ROA) and Return on Equity (ROE). The analysis is divided into pre-COVID-19 (2013-2019) and during/after COVID-19 (2020-2023). Data from 14 banks were examined using the Pooled Ordinary Least Squares (OLS) method. The results show that mobile banking usage positively affects bank performance in both periods. Prior to the pandemic, increased mobile banking transactions significantly enhanced profitability and equity returns, indicating improved efficiency in generating earnings from assets and a positive impact on returns to shareholders. This positive effect became more pronounced during and after the pandemic, reflecting a greater reliance on digital banking channels. The COVID-19 pandemic notably shifted consumer behaviour towards higher adoption of digital solutions. The study also highlights significant differences between small and large banks. For smaller banks, mobile banking usage did not significantly impact performance metrics, suggesting challenges in leveraging digital banking effectively. In contrast, larger banks experienced significant improvements in ROA and ROE due to mobile banking usage, benefiting from their substantial resources and advanced technological infrastructure. Overall, this research underscores the crucial role of digital transformation in enhancing bank performance, particularly during crises. The findings suggest that continued investment in mobile banking technologies is essential for sustaining and improving financial performance.

Price Identification And Financial Feasibility Study of Hydroponic Agriculture Iot Solution Launch Project at PT XYZ Irawan, Anjeli Siti Maliska; Kitri, Mandra Lazuardi
Journal Integration of Management Studies Vol. 1 No. 2 (2023)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v1i2.109

Since 2015, the Internet of Things technology has grown significantly, reaching over 400 million users by 2022 in Indonesia. Recognizing the potential, PT XYZ, an innovative Indonesian telecommunications company, intends to launch an IoT solution for hydroponic agriculture. The launch project requires an initial investment of around Rp 500 million. Given that amount, PT XYZ aims to determine the selling price using a value-based pricing strategy and assess the project's financial feasibility and risks before proceeding. Primary and secondary data will be utilized in this research to determine the customer's willingness to pay (WTP), Capital budgeting cash flow, which includes the hypothetical price of IoT, calculating the weighted average cost of capital (WACC), free cash flow to the firm (FCFF), and terminal value. The study used various capital budgeting techniques, such as net present value (NPV), profitability index, payback period, internal rate of return (IRR), and Excel's goal seek feature, to determine the IoT solution's pricing. A risk analysis using sensitivity and Monte Carlo simulations have conducted. The research finds that the present value of benefits, or WTP, for the IoT solution, is Rp 90,708,238. Considering PT XYZ's targeted internal rate of return of 20%, the determined selling price is Rp 20,120,408, which lies within the customer's WTP, making the project feasible. Capital budgeting techniques show a payback period of 4.08 years, an NPV of Rp 3,424,935,505, and a profitability index of 8.21 over five years, indicating positive outcomes. However, the sensitivity analysis reveals that a change in product price, cost of goods sold, and salary expenses will significantly impact the NPV, resulting in a 12.69% risk, with profitability remaining high at 87.31%. In conclusion, PT XYZ's hydroponic agriculture IoT solution launch project is considered feasible, considering potential risks and mitigation strategies.

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