Cost amortized over years given Total rate for Machining and Operator Calculator

✖Factor to allow for machining refers to a multiplier applied to the dimensions of a workpiece or a component's design to accommodate the material removal and finishing processes during machining.ⓘ Factor to allow for Machining [K_m]			+10% -10%
✖Constant for Tool Type(e) refers to a numerical value or coefficient used in formulas or calculations to represent specific characteristics or properties of a particular type of cutting tool.ⓘ Constant for Tool Type(e) [e]			+10% -10%
✖Initial work piece weight refers to the weight of the raw material or stock material before any machining operations are performed on it.ⓘ Initial Work Piece Weight [W]			+10% -10%
✖Constant for tool type(f) represents a coefficient or numerical value associated with specific characteristics or properties of a particular type of cutting tool.ⓘ Constant for Tool Type(f) [f]			+10% -10%
✖Total rate machining and operator refers to the overall efficiency and effectiveness of the machining process.ⓘ Total Rate Machining and Operator [r]			+10% -10%
✖Factor to allow for operator refers to an adjustment or consideration made in machining processes to accommodate the involvement of human operators.ⓘ Factor to allow for Operator [K_o]			+10% -10%
✖Direct labor rate refers to the cost incurred by a manufacturing company for the labor directly involved in the machining process.ⓘ Direct Labor Rate [R_d]			+10% -10%
✖Number of shifts refers to the number of work shifts or periods during which metal machining operations are conducted within a given timeframe, usually a day or a week.ⓘ Number of Shifts [N]			+10% -10%

✖Amortized years refers to the expected lifespan or durability of a machine tool or equipment, factoring in its cost over that lifespan.ⓘ Cost amortized over years given Total rate for Machining and Operator [y]

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Cost amortized over years given Total rate for Machining and Operator Solution

STEP 0: Pre-Calculation Summary

Formula Used

Amortized Years = (Factor to allow for Machining*Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f))/((Total Rate Machining and Operator-(Factor to allow for Operator*Direct Labor Rate))*(2*Number of Shifts))
y = (K_m*e*W^f)/((r-(K_o*R_d))*(2*N))
This formula uses 9 Variables

Variables Used

Amortized Years - (Measured in Year) - Amortized years refers to the expected lifespan or durability of a machine tool or equipment, factoring in its cost over that lifespan.
Factor to allow for Machining - Factor to allow for machining refers to a multiplier applied to the dimensions of a workpiece or a component's design to accommodate the material removal and finishing processes during machining.
Constant for Tool Type(e) - Constant for Tool Type(e) refers to a numerical value or coefficient used in formulas or calculations to represent specific characteristics or properties of a particular type of cutting tool.
Initial Work Piece Weight - (Measured in Kilogram) - Initial work piece weight refers to the weight of the raw material or stock material before any machining operations are performed on it.
Constant for Tool Type(f) - Constant for tool type(f) represents a coefficient or numerical value associated with specific characteristics or properties of a particular type of cutting tool.
Total Rate Machining and Operator - Total rate machining and operator refers to the overall efficiency and effectiveness of the machining process.
Factor to allow for Operator - Factor to allow for operator refers to an adjustment or consideration made in machining processes to accommodate the involvement of human operators.
Direct Labor Rate - Direct labor rate refers to the cost incurred by a manufacturing company for the labor directly involved in the machining process.
Number of Shifts - Number of shifts refers to the number of work shifts or periods during which metal machining operations are conducted within a given timeframe, usually a day or a week.

STEP 1: Convert Input(s) to Base Unit

Factor to allow for Machining: 1.8 --> No Conversion Required
Constant for Tool Type(e): 45 --> No Conversion Required
Initial Work Piece Weight: 19.24857 Kilogram --> 19.24857 Kilogram No Conversion Required
Constant for Tool Type(f): 0.27 --> No Conversion Required
Total Rate Machining and Operator: 28.134 --> No Conversion Required
Factor to allow for Operator: 2 --> No Conversion Required
Direct Labor Rate: 12.567 --> No Conversion Required
Number of Shifts: 3 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

y = (K_m*e*W^f)/((r-(K_o*R_d))*(2*N)) --> (1.8*45*19.24857^0.27)/((28.134-(2*12.567))*(2*3))

Evaluating ... ...

y = 10.0000023229251

STEP 3: Convert Result to Output's Unit

315569593.304435 Second -->10.0000023229251 Year (Check conversion here)

FINAL ANSWER

10.0000023229251 ≈ 10 Year <-- Amortized Years

(Calculation completed in 00.004 seconds)

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Home » Engineering » Production Engineering » Metal Machining » Metal Machining Economics » Production Cost » Maximum Power cost » Cost amortized over years given Total rate for Machining and Operator

Credits

Created by Parul Keshav

National Institute of Technology (NIT), Srinagar

Parul Keshav has created this Calculator and 300+ more calculators!

Verified by Rajat Vishwakarma

University Institute of Technology RGPV (UIT - RGPV), Bhopal

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< Maximum Power cost Calculators

Machining Cost per component for Maximum Power when Cutting Speed is limited by Taylor's Exponent

LaTeX Go Machining and Operating Cost of Each Product = ((((Machining Time for Minimum Cost/Machining Time for Maximum Cost)^(1/Taylor's Tool Life Exponent))*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))+1)*Machining Time for Maximum Cost*Machining and Operating Rate

Cost of 1 Tool given Machining Cost for Maximum Power

LaTeX Go Cost of One Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time for Maximum Cost)-Machining and Operating Rate)/Time Proportion)-(Machining and Operating Rate*Time to Change One Tool)

Machining Cost per component under Maximum Power Condition

LaTeX Go Machining and Operating Cost of Each Product = Machining Time for Maximum Cost*(Machining and Operating Rate+(Time Proportion*(Machining and Operating Rate*Time to Change One Tool+Cost of One Tool)/Tool Life))

Cost of Machine tool given initial weight of workpiece

LaTeX Go Cost of One Tool = Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f)

Cost amortized over years given Total rate for Machining and Operator Formula

LaTeX Go

Components of Cost Amortization Over Years

1) Initial Cost: The total expenditure incurred to acquire the asset, including purchase price, installation, and any other costs necessary to bring the asset to operational status.
2) Useful Life: The expected period during which the asset will be productive and generate revenue, typically measured in years.
3) Residual Value: The estimated value of the asset at the end of its useful life. This is the amount the asset is expected to be worth after it has been fully utilized.
4) Amortization Period: The duration over which the cost of the asset will be spread.

Practical Application

1) Machinery Costs: High-cost equipment such as CNC machines, lathes, or milling machines are significant investments. Amortizing these costs helps in spreading the financial burden over several years.
2) Cost Management: By including the amortized cost in operational budgets, companies can ensure that they are setting aside enough resources to cover the eventual replacement or upgrade of machinery.
3) Pricing Strategy: To cover the amortized cost, companies can incorporate this expense into their pricing models, ensuring that each job contributes to recovering the cost of the equipment.
4) Financial Planning: Accurate amortization schedules allow for better long-term financial planning and can impact decisions on when to invest in new machinery or upgrade existing equipment.

How to Calculate Cost amortized over years given Total rate for Machining and Operator?

Cost amortized over years given Total rate for Machining and Operator calculator uses Amortized Years = (Factor to allow for Machining*Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f))/((Total Rate Machining and Operator-(Factor to allow for Operator*Direct Labor Rate))*(2*Number of Shifts)) to calculate the Amortized Years, Cost amortized over years given Total rate for Machining and Operator refers to the process of spreading the expense of a large capital asset over its useful life, allowing a company to recognize a portion of the asset's cost as an expense each year. This approach helps in aligning the expense with the revenue generated by the asset over time, providing a clearer financial picture and aiding in budgeting and financial planning. Amortized Years is denoted by y symbol.

How to calculate Cost amortized over years given Total rate for Machining and Operator using this online calculator? To use this online calculator for Cost amortized over years given Total rate for Machining and Operator, enter Factor to allow for Machining (K_m), Constant for Tool Type(e) (e), Initial Work Piece Weight (W), Constant for Tool Type(f) (f), Total Rate Machining and Operator (r), Factor to allow for Operator (K_o), Direct Labor Rate (R_d) & Number of Shifts (N) and hit the calculate button. Here is how the Cost amortized over years given Total rate for Machining and Operator calculation can be explained with given input values -> 3.7E-7 = (1.8*45*19.24857^0.27)/((28.134-(2*12.567))*(2*3)).

FAQ

What is Cost amortized over years given Total rate for Machining and Operator?

Cost amortized over years given Total rate for Machining and Operator refers to the process of spreading the expense of a large capital asset over its useful life, allowing a company to recognize a portion of the asset's cost as an expense each year. This approach helps in aligning the expense with the revenue generated by the asset over time, providing a clearer financial picture and aiding in budgeting and financial planning and is represented as y = (K_m*e*W^f)/((r-(K_o*R_d))*(2*N)) or Amortized Years = (Factor to allow for Machining*Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f))/((Total Rate Machining and Operator-(Factor to allow for Operator*Direct Labor Rate))*(2*Number of Shifts)). Factor to allow for machining refers to a multiplier applied to the dimensions of a workpiece or a component's design to accommodate the material removal and finishing processes during machining, Constant for Tool Type(e) refers to a numerical value or coefficient used in formulas or calculations to represent specific characteristics or properties of a particular type of cutting tool, Initial work piece weight refers to the weight of the raw material or stock material before any machining operations are performed on it, Constant for tool type(f) represents a coefficient or numerical value associated with specific characteristics or properties of a particular type of cutting tool, Total rate machining and operator refers to the overall efficiency and effectiveness of the machining process, Factor to allow for operator refers to an adjustment or consideration made in machining processes to accommodate the involvement of human operators, Direct labor rate refers to the cost incurred by a manufacturing company for the labor directly involved in the machining process & Number of shifts refers to the number of work shifts or periods during which metal machining operations are conducted within a given timeframe, usually a day or a week.

How to calculate Cost amortized over years given Total rate for Machining and Operator?

Cost amortized over years given Total rate for Machining and Operator refers to the process of spreading the expense of a large capital asset over its useful life, allowing a company to recognize a portion of the asset's cost as an expense each year. This approach helps in aligning the expense with the revenue generated by the asset over time, providing a clearer financial picture and aiding in budgeting and financial planning is calculated using Amortized Years = (Factor to allow for Machining*Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f))/((Total Rate Machining and Operator-(Factor to allow for Operator*Direct Labor Rate))*(2*Number of Shifts)). To calculate Cost amortized over years given Total rate for Machining and Operator, you need Factor to allow for Machining (K_m), Constant for Tool Type(e) (e), Initial Work Piece Weight (W), Constant for Tool Type(f) (f), Total Rate Machining and Operator (r), Factor to allow for Operator (K_o), Direct Labor Rate (R_d) & Number of Shifts (N). With our tool, you need to enter the respective value for Factor to allow for Machining, Constant for Tool Type(e), Initial Work Piece Weight, Constant for Tool Type(f), Total Rate Machining and Operator, Factor to allow for Operator, Direct Labor Rate & Number of Shifts and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

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