Machining and Operating Rate given Total Production Cost Calculator

✖Total Production Cost involves summing up various cost components associated with the machining process.ⓘ Total Production Cost [C_tp]			+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 a Tool [C]			+10% -10%
✖Batch size refers to the number of identical parts produced in a single production run or cycle.ⓘ Batch Size [N]			+10% -10%
✖Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.ⓘ Setup Time [t_s]			+10% -10%
✖Machining time refers to the total time required to complete a specific machining operation on a workpiece.ⓘ Machining Time [t]			+10% -10%
✖Tool changing time referred to as tool change time, is the duration required to remove a used tool and replace it with a new one.ⓘ Tool Changing Time [t_ct]			+10% -10%

✖Machining and operating rate refers to the speed at which material is removed from a workpiece during a machining operation.ⓘ Machining and Operating Rate given Total Production Cost [R_m]

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Machining and Operating Rate given Total Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of a Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time))
R_m = (C_tp-(N_t*C))/(N*(t_s+t)+(N_t*t_ct))
This formula uses 8 Variables

Variables Used

Machining and Operating Rate - Machining and operating rate refers to the speed at which material is removed from a workpiece during a machining operation.
Total Production Cost - Total Production Cost involves summing up various cost components associated with the machining process.
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.
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.
Batch Size - Batch size refers to the number of identical parts produced in a single production run or cycle.
Setup Time - (Measured in Second) - Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.
Machining Time - (Measured in Second) - Machining time refers to the total time required to complete a specific machining operation on a workpiece.
Tool Changing Time - (Measured in Second) - Tool changing time referred to as tool change time, is the duration required to remove a used tool and replace it with a new one.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 30000 --> No Conversion Required
Number of Tools Used: 3 --> No Conversion Required
Cost of a Tool: 80 --> No Conversion Required
Batch Size: 2 --> No Conversion Required
Setup Time: 54 Second --> 54 Second No Conversion Required
Machining Time: 87 Second --> 87 Second No Conversion Required
Tool Changing Time: 12 Second --> 12 Second No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

R_m = (C_tp-(N_t*C))/(N*(t_s+t)+(N_t*t_ct)) --> (30000-(3*80))/(2*(54+87)+(3*12))

Evaluating ... ...

R_m = 93.5849056603774

STEP 3: Convert Result to Output's Unit

93.5849056603774 --> No Conversion Required

FINAL ANSWER

93.5849056603774 ≈ 93.58491 <-- Machining and Operating Rate

(Calculation completed in 00.004 seconds)

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Created by Kumar Siddhant

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

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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

Machining and Operating Rate given Total Production Cost Formula

LaTeX Go

Significance of Machining and Operating Costs

The Machining and Operating Cost basically helps in determining the count of components that can be manufactured in the given resources. If this calculated cost is lower than the actual cost based on machining time, it means that the production planning has failed, as the total number of the components that are to be produced becomes lower than the starting batch size.

How to Calculate Machining and Operating Rate given Total Production Cost?

Machining and Operating Rate given Total Production Cost calculator uses Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of a Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time)) to calculate the Machining and Operating Rate, The Machining and Operating Rate given Total Production Cost is a method to determine the maximum expense rate that can be afforded on machines and operators when based on the expenses it took to manufacture a complete batch of components. Machining and Operating Rate is denoted by R_m symbol.

How to calculate Machining and Operating Rate given Total Production Cost using this online calculator? To use this online calculator for Machining and Operating Rate given Total Production Cost, enter Total Production Cost (C_tp), Number of Tools Used (N_t), Cost of a Tool (C), Batch Size (N), Setup Time (t_s), Machining Time (t) & Tool Changing Time (t_ct) and hit the calculate button. Here is how the Machining and Operating Rate given Total Production Cost calculation can be explained with given input values -> 93.58491 = (30000-(3*80))/(2*(54+87)+(3*12)).

FAQ

What is Machining and Operating Rate given Total Production Cost?

The Machining and Operating Rate given Total Production Cost is a method to determine the maximum expense rate that can be afforded on machines and operators when based on the expenses it took to manufacture a complete batch of components and is represented as R_m = (C_tp-(N_t*C))/(N*(t_s+t)+(N_t*t_ct)) or Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of a Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time)). Total Production Cost involves summing up various cost components associated with the machining process, The Number of Tools Used is the total number of tools used for manufacturing a batch of products, 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, Batch size refers to the number of identical parts produced in a single production run or cycle, Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component, Machining time refers to the total time required to complete a specific machining operation on a workpiece & Tool changing time referred to as tool change time, is the duration required to remove a used tool and replace it with a new one.

How to calculate Machining and Operating Rate given Total Production Cost?

The Machining and Operating Rate given Total Production Cost is a method to determine the maximum expense rate that can be afforded on machines and operators when based on the expenses it took to manufacture a complete batch of components is calculated using Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of a Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time)). To calculate Machining and Operating Rate given Total Production Cost, you need Total Production Cost (C_tp), Number of Tools Used (N_t), Cost of a Tool (C), Batch Size (N), Setup Time (t_s), Machining Time (t) & Tool Changing Time (t_ct). With our tool, you need to enter the respective value for Total Production Cost, Number of Tools Used, Cost of a Tool, Batch Size, Setup Time, Machining Time & Tool Changing Time 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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