Machining and Operating Rate given Machining Cost Calculator

✖Minimum Machining Cost of Each Product is the total amount of money required to machine a single product such that spend is minimum.ⓘ Minimum Machining Cost of Each Product [C_min]			+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%
✖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%
✖Cost of A Tool is simply the cost of one tool being used for machining.ⓘ Cost of A Tool [C_t]			+10% -10%
✖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%
✖Time to Change One Tool For Minimum Cost is the measure of time it takes to change one tool during machining such the machining cost is minimum.ⓘ Time to Change One Tool For Minimum Cost [t_min]			+10% -10%

✖Minimum Machining And Operating Rate is the minimum money charged for processing on and operating machines per unit time, including overheads.ⓘ Machining and Operating Rate given Machining Cost [M_min]

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Formula

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Machining and Operating Rate given Machining Cost

Formula

M min = \frac{(\frac{C min}{t m}) - (Q \cdot \frac{C t}{T})}{(Q \cdot \frac{t min}{T}) + 1}

Example

101 = \frac{(\frac{4697.004}{0.768594 min}) - (0.5000 \cdot \frac{100.00}{75 min})}{(0.5000 \cdot \frac{1.25 min}{75 min}) + 1}

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Machining and Operating Rate given Machining Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Minimum Machining And Operating Rate = ((Minimum Machining Cost of Each Product/Machining Time)-(Time Proportion of Cutting Edge Engagement*Cost of A Tool/Tool Life))/((Time Proportion of Cutting Edge Engagement*Time to Change One Tool For Minimum Cost/Tool Life)+1)
M_min = ((C_min/t_m)-(Q*C_t/T))/((Q*t_min/T)+1)
This formula uses 7 Variables

Variables Used

Minimum Machining And Operating Rate - Minimum Machining And Operating Rate is the minimum money charged for processing on and operating machines per unit time, including overheads.
Minimum Machining Cost of Each Product - Minimum Machining Cost of Each Product is the total amount of money required to machine a single product such that spend is minimum.
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.
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.
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.
Time to Change One Tool For Minimum Cost - (Measured in Second) - Time to Change One Tool For Minimum Cost is the measure of time it takes to change one tool during machining such the machining cost is minimum.

STEP 1: Convert Input(s) to Base Unit

Minimum Machining Cost of Each Product: 4697.004 --> No Conversion Required
Machining Time: 0.768594 Minute --> 46.11564 Second (Check conversion here)
Time Proportion of Cutting Edge Engagement: 0.5 --> No Conversion Required
Cost of A Tool: 100 --> No Conversion Required
Tool Life: 75 Minute --> 4500 Second (Check conversion here)
Time to Change One Tool For Minimum Cost: 1.25 Minute --> 75 Second (Check conversion here)

STEP 2: Evaluate Formula

Substituting Input Values in Formula

M_min = ((C_min/t_m)-(Q*C_t/T))/((Q*t_min/T)+1) --> ((4697.004/46.11564)-(0.5*100/4500))/((0.5*75/4500)+1)

Evaluating ... ...

M_min = 100.999956279511

STEP 3: Convert Result to Output's Unit

100.999956279511 --> No Conversion Required

FINAL ANSWER

100.999956279511 ≈ 101 <-- Minimum Machining And Operating Rate

(Calculation completed in 00.004 seconds)

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Home » Engineering » Production Engineering » Metal Machining » Metal Machining Economics » Production Cost » Machining Cost » Machining and Operating Rate given Machining Cost

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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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< Machining Cost Calculators

Total Machining and Operating Costs using Average Production Cost

Go Total Machining And Operating Cost = (Production Cost of Each Component-(Average Cost of A Tool*Non Productive Time)-(Number of Tools Used/Batch Size*(Average Cost of A Tool*Time to Change One Tool+Average Cost of A Tool)))*Batch Size

Total Machining and Operating Costs given Total Production Cost

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

Machining and Operating Rate given Total Machining and Operating Cost

Go Machining And Operating Rate = Rate of Total Machining And Operating Cost/Total Production Time

Total Machining and Operating Cost

Go Rate of Total Machining And Operating Cost = Machining And Operating Rate*Total Production Time

Machining and Operating Rate given Machining Cost Formula

Significance of Machining and Operating Rate

The Machining and Operating Rate basically helps in determining the count of components that can be manufactured in the given time for given resources. Optimizing this Rate helps in regulating the Total Machining Cost of the Production which carries the maximum weightage of the Total Production Cost.

How to Calculate Machining and Operating Rate given Machining Cost?

Machining and Operating Rate given Machining Cost calculator uses Minimum Machining And Operating Rate = ((Minimum Machining Cost of Each Product/Machining Time)-(Time Proportion of Cutting Edge Engagement*Cost of A Tool/Tool Life))/((Time Proportion of Cutting Edge Engagement*Time to Change One Tool For Minimum Cost/Tool Life)+1) to calculate the Minimum Machining And Operating Rate, The Machining and Operating Rate given Machining Cost is a way to determine the maximum expense rate that can be afforded on machines and operators when based on the expense it took to machine a single component. Minimum Machining And Operating Rate is denoted by M_min symbol.

How to calculate Machining and Operating Rate given Machining Cost using this online calculator? To use this online calculator for Machining and Operating Rate given Machining Cost, enter Minimum Machining Cost of Each Product (C_min), Machining Time (t_m), Time Proportion of Cutting Edge Engagement (Q), Cost of A Tool (C_t), Tool Life (T) & Time to Change One Tool For Minimum Cost (t_min) and hit the calculate button. Here is how the Machining and Operating Rate given Machining Cost calculation can be explained with given input values -> 103.5042 = ((4697.004/46.11564)-(0.5*100/4500))/((0.5*75/4500)+1).

FAQ

What is Machining and Operating Rate given Machining Cost?

The Machining and Operating Rate given Machining Cost is a way to determine the maximum expense rate that can be afforded on machines and operators when based on the expense it took to machine a single component and is represented as M_min = ((C_min/t_m)-(Q*C_t/T))/((Q*t_min/T)+1) or Minimum Machining And Operating Rate = ((Minimum Machining Cost of Each Product/Machining Time)-(Time Proportion of Cutting Edge Engagement*Cost of A Tool/Tool Life))/((Time Proportion of Cutting Edge Engagement*Time to Change One Tool For Minimum Cost/Tool Life)+1). Minimum Machining Cost of Each Product is the total amount of money required to machine a single product such that spend is minimum, 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, 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, Cost of A Tool is simply the cost of one tool being used for machining, Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations & Time to Change One Tool For Minimum Cost is the measure of time it takes to change one tool during machining such the machining cost is minimum.

How to calculate Machining and Operating Rate given Machining Cost?

The Machining and Operating Rate given Machining Cost is a way to determine the maximum expense rate that can be afforded on machines and operators when based on the expense it took to machine a single component is calculated using Minimum Machining And Operating Rate = ((Minimum Machining Cost of Each Product/Machining Time)-(Time Proportion of Cutting Edge Engagement*Cost of A Tool/Tool Life))/((Time Proportion of Cutting Edge Engagement*Time to Change One Tool For Minimum Cost/Tool Life)+1). To calculate Machining and Operating Rate given Machining Cost, you need Minimum Machining Cost of Each Product (C_min), Machining Time (t_m), Time Proportion of Cutting Edge Engagement (Q), Cost of A Tool (C_t), Tool Life (T) & Time to Change One Tool For Minimum Cost (t_min). With our tool, you need to enter the respective value for Minimum Machining Cost of Each Product, Machining Time, Time Proportion of Cutting Edge Engagement, Cost of A Tool, Tool Life & Time to Change One Tool For Minimum Cost and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

How many ways are there to calculate Minimum Machining And Operating Rate?

In this formula, Minimum Machining And Operating Rate uses Minimum Machining Cost of Each Product, Machining Time, Time Proportion of Cutting Edge Engagement, Cost of A Tool, Tool Life & Time to Change One Tool For Minimum Cost. We can use 1 other way(s) to calculate the same, which is/are as follows -

Minimum Machining And Operating Rate = Minimum Machining Cost of Each Product*(1-Taylor's Tool Life Exponent)/Machining Time For Minimum Cost

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