Machining Cost per component Calculator

✖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 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%

✖Machining And Operating Cost of Each Product is the total amount of money required to machine a single product.ⓘ Machining Cost per component [C_m]

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Machining Cost per component Solution

STEP 0: Pre-Calculation Summary

Formula Used

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+Cost of A Tool)/Tool Life))
C_m = t_m*(M+(Q*(M*t_c+C_t)/T))
This formula uses 7 Variables

Variables Used

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.
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.

STEP 1: Convert Input(s) to Base Unit

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
Cost of A Tool: 478575 --> No Conversion Required
Tool Life: 4500 Second --> 4500 Second No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_m = t_m*(M+(Q*(M*t_c+C_t)/T)) --> 30*(101+(0.5*(101*75+478575)/4500))

Evaluating ... ...

C_m = 4650.5

STEP 3: Convert Result to Output's Unit

4650.5 --> No Conversion Required

FINAL ANSWER

4650.5 <-- Machining And Operating Cost of Each Product

(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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< 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

Machining Cost per component 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 Cost per component?

Machining Cost per component calculator uses 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+Cost of A Tool)/Tool Life)) to calculate the Machining And Operating Cost of Each Product, The Machining Cost per component is defined as the capital that must be invested for machining and operating processes to be afforded on a single product. Machining And Operating Cost of Each Product is denoted by C_m symbol.

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

FAQ

What is Machining Cost per component?

The Machining Cost per component is defined as the capital that must be invested for machining and operating processes to be afforded on a single product and is represented as C_m = t_m*(M+(Q*(M*t_c+C_t)/T)) or 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+Cost of A Tool)/Tool Life)). 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, 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.

How to calculate Machining Cost per component?

The Machining Cost per component is defined as the capital that must be invested for machining and operating processes to be afforded on a single product is calculated using 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+Cost of A Tool)/Tool Life)). To calculate Machining Cost per component, you need Machining Time (t_m), Machining And Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q), Time to Change One Tool (t_c), Cost of A Tool (C_t) & Tool Life (T). With our tool, you need to enter the respective value for Machining Time, Machining And Operating Rate, Time Proportion of Cutting Edge Engagement, Time to Change One Tool, Cost of A Tool & Tool Life 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 Machining And Operating Cost of Each Product?

In this formula, Machining And Operating Cost of Each Product uses Machining Time, Machining And Operating Rate, Time Proportion of Cutting Edge Engagement, Time to Change One Tool, Cost of A Tool & Tool Life. We can use 2 other way(s) to calculate the same, which is/are as follows -

Machining And Operating Cost of Each Product = Machining Time*(Machining And Operating Rate+(Time Proportion of Cutting Edge Engagement*(Cost of Changing Each Tool+Cost of A Tool)/Tool Life))
Machining And Operating Cost of Each Product = Machining And Operating Rate*Machining Time For Minimum Cost/(1-Taylor's Tool Life Exponent)

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