Cost of 1 Tool given Machining Cost Calculator

✖Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.ⓘ Tool Life [T]			+10% -10%
✖Machining And Operating Cost of Each Product is the total amount of money required to machine a single product.ⓘ Machining And Operating Cost of Each Product [C_m]			+10% -10%
✖Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material.ⓘ Machining Time [t_m]			+10% -10%
✖Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.ⓘ Machining And Operating Rate [M]			+10% -10%
✖Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.ⓘ Time Proportion of Cutting Edge Engagement [Q]			+10% -10%
✖Time to Change One Tool is the measure of time it takes to change one tool during machining.ⓘ Time to Change One Tool [t_c]			+10% -10%

✖Cost of A Tool is simply the cost of one tool being used for machining.ⓘ Cost of 1 Tool given Machining Cost [C_t]

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Cost of 1 Tool given Machining Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Cost of A Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining And Operating Rate*Time to Change One Tool)
C_t = (T*((C_m/t_m)-M)/Q)-(M*t_c)
This formula uses 7 Variables

Variables Used

Cost of A Tool - Cost of A Tool is simply the cost of one tool being used for machining.
Tool Life - (Measured in Second) - Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.
Machining And Operating Cost of Each Product - Machining And Operating Cost of Each Product is the total amount of money required to machine a single product.
Machining Time - (Measured in Second) - Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material.
Machining And Operating Rate - Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Time Proportion of Cutting Edge Engagement - Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.
Time to Change One Tool - (Measured in Second) - Time to Change One Tool is the measure of time it takes to change one tool during machining.

STEP 1: Convert Input(s) to Base Unit

Tool Life: 4500 Second --> 4500 Second No Conversion Required
Machining And Operating Cost of Each Product: 4650.5 --> No Conversion Required
Machining Time: 30 Second --> 30 Second No Conversion Required
Machining And Operating Rate: 101 --> No Conversion Required
Time Proportion of Cutting Edge Engagement: 0.5 --> No Conversion Required
Time to Change One Tool: 75 Second --> 75 Second No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_t = (T*((C_m/t_m)-M)/Q)-(M*t_c) --> (4500*((4650.5/30)-101)/0.5)-(101*75)

Evaluating ... ...

C_t = 478575

STEP 3: Convert Result to Output's Unit

478575 --> No Conversion Required

FINAL ANSWER

478575 <-- Cost of A Tool

(Calculation completed in 00.004 seconds)

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Created by Kumar Siddhant

Indian Institute of Information Technology, Design and Manufacturing (IIITDM), Jabalpur

Kumar Siddhant has created this Calculator and 400+ more calculators!

Verified by Parul Keshav

National Institute of Technology (NIT), Srinagar

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< Tool Cost Calculators

Tool Changing Time for 1 Tool given Machining Cost

LaTeX Go Time to Change One Tool = ((Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of A Tool)/Machining And Operating Rate

Cost of 1 Tool given Machining Cost

LaTeX Go Cost of A Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining And Operating Rate*Time to Change One Tool)

Time Proportion of Cutting Edge Engagement given Machining Cost

LaTeX Go Time Proportion of Cutting Edge Engagement = Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/(Machining And Operating Rate*Time to Change One Tool+Cost of A Tool)

Tool Changing Cost per Tool given Machining Cost

LaTeX Go Cost of Changing Each Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of A Tool

Cost of 1 Tool given Machining Cost Formula

LaTeX Go

Significance of Cost of Tools Used

The Cost of Tools Used helps us in determining the maximum number of times a tool can be renewed during the production of a given batch of products. This renewing might include buying or resharpening the tool. Thus if the number of Tools to be used gets bounded, the machining operation would have to be optimized in order to give sufficient tool life to minimize the Total Cost of Production.

How to Calculate Cost of 1 Tool given Machining Cost?

Cost of 1 Tool given Machining Cost calculator uses Cost of A Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining And Operating Rate*Time to Change One Tool) to calculate the Cost of A Tool, The Cost of 1 Tool given Machining Cost is a method to determine the maximum amount available to be spent on renewing the Machining Tool when the Cost of Machining per component is known. Cost of A Tool is denoted by C_t symbol.

How to calculate Cost of 1 Tool given Machining Cost using this online calculator? To use this online calculator for Cost of 1 Tool given Machining Cost, enter Tool Life (T), Machining And Operating Cost of Each Product (C_m), Machining Time (t_m), Machining And Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Time to Change One Tool (t_c) and hit the calculate button. Here is how the Cost of 1 Tool given Machining Cost calculation can be explained with given input values -> 478575 = (4500*((4650.5/30)-101)/0.5)-(101*75).

FAQ

What is Cost of 1 Tool given Machining Cost?

The Cost of 1 Tool given Machining Cost is a method to determine the maximum amount available to be spent on renewing the Machining Tool when the Cost of Machining per component is known and is represented as C_t = (T*((C_m/t_m)-M)/Q)-(M*t_c) or Cost of A Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining And Operating Rate*Time to Change One Tool). Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations, Machining And Operating Cost of Each Product is the total amount of money required to machine a single product, Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material, Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads, Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece & Time to Change One Tool is the measure of time it takes to change one tool during machining.

How to calculate Cost of 1 Tool given Machining Cost?

The Cost of 1 Tool given Machining Cost is a method to determine the maximum amount available to be spent on renewing the Machining Tool when the Cost of Machining per component is known is calculated using Cost of A Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining And Operating Rate*Time to Change One Tool). To calculate Cost of 1 Tool given Machining Cost, you need Tool Life (T), Machining And Operating Cost of Each Product (C_m), Machining Time (t_m), Machining And Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Time to Change One Tool (t_c). With our tool, you need to enter the respective value for Tool Life, Machining And Operating Cost of Each Product, Machining Time, Machining And Operating Rate, Time Proportion of Cutting Edge Engagement & Time to Change One Tool 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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