Cost of Tool given Total Cost of Tools Calculator

✖Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.ⓘ Total Cost of Tools Used [C_t]			+10% -10%
✖The Number of Tools Used is the total number of tools used for manufacturing a batch of products.ⓘ Number of Tools Used [N_t]			+10% -10%

✖Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs.ⓘ Cost of Tool given Total Cost of Tools [C]

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Cost of Tool given Total Cost of Tools Solution

STEP 0: Pre-Calculation Summary

Formula Used

Cost of a Tool = Total Cost of Tools Used/Number of Tools Used
C = C_t/N_t
This formula uses 3 Variables

Variables Used

Cost of a Tool - Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs.
Total Cost of Tools Used - Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.

STEP 1: Convert Input(s) to Base Unit

Total Cost of Tools Used: 240 --> No Conversion Required
Number of Tools Used: 3 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C = C_t/N_t --> 240/3

Evaluating ... ...

C = 80

STEP 3: Convert Result to Output's Unit

80 --> No Conversion Required

FINAL ANSWER

80 <-- Cost of a Tool

(Calculation completed in 00.004 seconds)

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Credits

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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< Total Production Cost Calculators

Non-Productive Cost of Each Component given Total Production Cost

LaTeX Go Non Productive Cost of Each Component = Total Production Cost-(Batch Size*Cost of a Tool*Machining Time+Number of Tools Used*((Cost of a Tool*Time to Change One Tool)+Cost of a Tool))

Total Production Cost

LaTeX Go Total Production Cost = Batch Size*(Cost of a Tool*(Setup Time+Machining Time))+Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool)

Total Non-Productive Cost given Total Production Cost

LaTeX Go Total Non Productive Cost = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used)

Total Production Cost for given Batch Size

LaTeX Go Total Production Cost = Batch Size*Production Cost of Each Component

Cost of Tool given Total Cost of Tools Formula

LaTeX Go

Cost of a Tool = Total Cost of Tools Used/Number of Tools Used
C = C_t/N_t

What is Batch Production ?

Batch production is a method of manufacturing where the products are made as specified groups or amounts, within a time frame. A batch can go through a series of steps in a large manufacturing process to make the final desired product.

How to Calculate Cost of Tool given Total Cost of Tools?

Cost of Tool given Total Cost of Tools calculator uses Cost of a Tool = Total Cost of Tools Used/Number of Tools Used to calculate the Cost of a Tool, The Cost of Tool given Total Cost of Tools is a method to determine the maximum price of each tool that can be afforded when the total resources available and total requirement for machining tools for a batch production is known. Cost of a Tool is denoted by C symbol.

How to calculate Cost of Tool given Total Cost of Tools using this online calculator? To use this online calculator for Cost of Tool given Total Cost of Tools, enter Total Cost of Tools Used (C_t) & Number of Tools Used (N_t) and hit the calculate button. Here is how the Cost of Tool given Total Cost of Tools calculation can be explained with given input values -> 166.6667 = 240/3.

FAQ

What is Cost of Tool given Total Cost of Tools?

The Cost of Tool given Total Cost of Tools is a method to determine the maximum price of each tool that can be afforded when the total resources available and total requirement for machining tools for a batch production is known and is represented as C = C_t/N_t or Cost of a Tool = Total Cost of Tools Used/Number of Tools Used. Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process & The Number of Tools Used is the total number of tools used for manufacturing a batch of products.

How to calculate Cost of Tool given Total Cost of Tools?

The Cost of Tool given Total Cost of Tools is a method to determine the maximum price of each tool that can be afforded when the total resources available and total requirement for machining tools for a batch production is known is calculated using Cost of a Tool = Total Cost of Tools Used/Number of Tools Used. To calculate Cost of Tool given Total Cost of Tools, you need Total Cost of Tools Used (C_t) & Number of Tools Used (N_t). With our tool, you need to enter the respective value for Total Cost of Tools Used & Number of Tools Used 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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