✖Machining time for maximum cost refers to the duration it takes to complete a specific machining operation or process on a workpiece.ⓘ Machining Time for Maximum Cost [t_max]			+10% -10%
✖Machining and operating rate refers to the speed or efficiency at which machining operations are conducted and machinery is utilized within a manufacturing facility.ⓘ Machining and Operating Rate [M]			+10% -10%
✖Time proportion is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.ⓘ Time Proportion [Q]			+10% -10%
✖Time to change one tool refers to the duration required to replace a worn-out or damaged cutting tool with a new one during the machining process.ⓘ Time to Change One Tool [t_c]			+10% -10%
✖Cost of one tool refers to the monetary value associated with acquiring, using, and maintaining a cutting tool for machining operations.ⓘ Cost of One Tool [C]			+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 refers to the total expenses incurred in the manufacturing process for producing individual metal components or products.ⓘ Machining Cost per component under Maximum Power Condition [C_m]

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Formula

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Machining Cost per component under Maximum Power Condition

Formula

`"C"_{"m"} = "t"_{"max"}*("M"+("Q"*("M"*"t"_{"c"}+"C")/"T"))`

Example

`"25"="30s"*("0.083"+("0.5"*("0.083"*"5s"+"100")/"66.9136s"))`

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Machining Cost per component under Maximum Power Condition Solution

STEP 0: Pre-Calculation Summary

Formula Used

Machining and Operating Cost of Each Product = Machining Time for Maximum Cost*(Machining and Operating Rate+(Time Proportion*(Machining and Operating Rate*Time to Change One Tool+Cost of One Tool)/Tool Life))
C_m = t_max*(M+(Q*(M*t_c+C)/T))
This formula uses 7 Variables

Variables Used

Machining and Operating Cost of Each Product - Machining and operating cost of each product refers to the total expenses incurred in the manufacturing process for producing individual metal components or products.
Machining Time for Maximum Cost - (Measured in Second) - Machining time for maximum cost refers to the duration it takes to complete a specific machining operation or process on a workpiece.
Machining and Operating Rate - Machining and operating rate refers to the speed or efficiency at which machining operations are conducted and machinery is utilized within a manufacturing facility.
Time Proportion - Time proportion 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 refers to the duration required to replace a worn-out or damaged cutting tool with a new one during the machining process.
Cost of One Tool - Cost of one tool refers to the monetary value associated with acquiring, using, and maintaining a cutting tool for machining operations.
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 for Maximum Cost: 30 Second --> 30 Second No Conversion Required
Machining and Operating Rate: 0.083 --> No Conversion Required
Time Proportion: 0.5 --> No Conversion Required
Time to Change One Tool: 5 Second --> 5 Second No Conversion Required
Cost of One Tool: 100 --> No Conversion Required
Tool Life: 66.9136 Second --> 66.9136 Second No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_m = t_max*(M+(Q*(M*t_c+C)/T)) --> 30*(0.083+(0.5*(0.083*5+100)/66.9136))

Evaluating ... ...

C_m = 24.9999979675283

STEP 3: Convert Result to Output's Unit

24.9999979675283 --> No Conversion Required

FINAL ANSWER

24.9999979675283 ≈ 25 <-- Machining and Operating Cost of Each Product

(Calculation completed in 00.004 seconds)

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Home » Engineering » Production Engineering » Metal Machining » Metal-Machining Economics » Production Cost » Maximum Power cost » Machining Cost per component under Maximum Power Condition

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Created by Kumar Siddhant

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

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< 5 Maximum Power cost Calculators

Machining Cost per component for Maximum Power when Cutting Speed is limited by Taylor's Exponent

Go Machining and Operating Cost of Each Product = ((((Machining Time for Minimum Cost/Machining Time for Maximum Cost)^(1/Taylor's Tool Life Exponent))*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))+1)*Machining Time for Maximum Cost*Machining and Operating Rate

Cost amortized over years given Total rate for Machining and Operator

Go Amortized Years = (Factor to allow for Machining*Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f))/((Total Rate Machining and Operator-(Factor to allow for Operator*Direct Labor Rate))*(2*Number of Shifts))

Cost of 1 Tool given Machining Cost for Maximum Power

Go Cost of One Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time for Maximum Cost)-Machining and Operating Rate)/Time Proportion)-(Machining and Operating Rate*Time to Change One Tool)

Machining Cost per component under Maximum Power Condition

Go Machining and Operating Cost of Each Product = Machining Time for Maximum Cost*(Machining and Operating Rate+(Time Proportion*(Machining and Operating Rate*Time to Change One Tool+Cost of One Tool)/Tool Life))

Cost of Machine tool given initial weight of workpiece

Go Cost of One Tool = Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f)

Machining Cost per component under Maximum Power Condition Formula

Components of Machining Cost

1) Material Cost: The cost of the raw material required for the component.
2) Machine Setup Cost: The cost to set up the machine for the specific job, which is often a fixed cost that can be amortized over the number of components produced.
3) Machining Time and Labor Cost: The direct labor costs associated with the machining time to produce the component.
4) Tooling Cost: The cost of tools used during machining, which includes tool wear and replacement.
5) Energy Cost: The cost of energy consumed during the machining process.
6) Overhead Costs: Indirect costs such as machine depreciation, maintenance, and facility overheads.

How to Calculate Machining Cost per component under Maximum Power Condition?

Machining Cost per component under Maximum Power Condition calculator uses Machining and Operating Cost of Each Product = Machining Time for Maximum Cost*(Machining and Operating Rate+(Time Proportion*(Machining and Operating Rate*Time to Change One Tool+Cost of One Tool)/Tool Life)) to calculate the Machining and Operating Cost of Each Product, Machining Cost per component under Maximum Power Condition refers to the total expense incurred to produce a single machined part. This cost includes all relevant expenses such as material, labor, machine usage, tooling, and overheads. Accurately calculating this cost is essential for pricing, budgeting, and profitability analysis. Machining and Operating Cost of Each Product is denoted by C_m symbol.

How to calculate Machining Cost per component under Maximum Power Condition using this online calculator? To use this online calculator for Machining Cost per component under Maximum Power Condition, enter Machining Time for Maximum Cost (t_max), Machining and Operating Rate (M), Time Proportion (Q), Time to Change One Tool (t_c), Cost of One Tool (C) & Tool Life (T) and hit the calculate button. Here is how the Machining Cost per component under Maximum Power Condition calculation can be explained with given input values -> 70.01999 = 30*(0.083+(0.5*(0.083*5+100)/66.9136)).

FAQ

What is Machining Cost per component under Maximum Power Condition?

Machining Cost per component under Maximum Power Condition refers to the total expense incurred to produce a single machined part. This cost includes all relevant expenses such as material, labor, machine usage, tooling, and overheads. Accurately calculating this cost is essential for pricing, budgeting, and profitability analysis and is represented as C_m = t_max*(M+(Q*(M*t_c+C)/T)) or Machining and Operating Cost of Each Product = Machining Time for Maximum Cost*(Machining and Operating Rate+(Time Proportion*(Machining and Operating Rate*Time to Change One Tool+Cost of One Tool)/Tool Life)). Machining time for maximum cost refers to the duration it takes to complete a specific machining operation or process on a workpiece, Machining and operating rate refers to the speed or efficiency at which machining operations are conducted and machinery is utilized within a manufacturing facility, Time proportion 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 refers to the duration required to replace a worn-out or damaged cutting tool with a new one during the machining process, Cost of one tool refers to the monetary value associated with acquiring, using, and maintaining a cutting tool for machining operations & 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 under Maximum Power Condition?

Machining Cost per component under Maximum Power Condition refers to the total expense incurred to produce a single machined part. This cost includes all relevant expenses such as material, labor, machine usage, tooling, and overheads. Accurately calculating this cost is essential for pricing, budgeting, and profitability analysis is calculated using Machining and Operating Cost of Each Product = Machining Time for Maximum Cost*(Machining and Operating Rate+(Time Proportion*(Machining and Operating Rate*Time to Change One Tool+Cost of One Tool)/Tool Life)). To calculate Machining Cost per component under Maximum Power Condition, you need Machining Time for Maximum Cost (t_max), Machining and Operating Rate (M), Time Proportion (Q), Time to Change One Tool (t_c), Cost of One Tool (C) & Tool Life (T). With our tool, you need to enter the respective value for Machining Time for Maximum Cost, Machining and Operating Rate, Time Proportion, Time to Change One Tool, Cost of One 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 for Maximum Cost, Machining and Operating Rate, Time Proportion, Time to Change One Tool, Cost of One Tool & Tool Life. We can use 1 other way(s) to calculate the same, which is/are as follows -

Machining and Operating Cost of Each Product = ((((Machining Time for Minimum Cost/Machining Time for Maximum Cost)^(1/Taylor's Tool Life Exponent))*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))+1)*Machining Time for Maximum Cost*Machining and Operating Rate

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