Machining Time for Each Product given Individual Costs Calculator

✖Total Production Cost involves summing up various cost components associated with the machining process.ⓘ Total Production Cost [C_p]			+10% -10%
✖Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.ⓘ Total Non Productive Cost [C_np]			+10% -10%
✖Total Tool Changing Cost involves accounting for both the direct and indirect expenses related to the tool change process.ⓘ Total Tool Changing Cost [C_t]			+10% -10%
✖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]			+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 [B]			+10% -10%

✖Machining time refers to the total time required to complete a specific machining operation on a workpiece.ⓘ Machining Time for Each Product given Individual Costs [T]

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Machining Time for Each Product given Individual Costs Solution

STEP 0: Pre-Calculation Summary

Formula Used

Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size)
T = (C_p-(C_np+C_t+c))/(C*B)
This formula uses 7 Variables

Variables Used

Machining Time - (Measured in Second) - Machining time refers to the total time required to complete a specific machining operation on a workpiece.
Total Production Cost - Total Production Cost involves summing up various cost components associated with the machining process.
Total Non Productive Cost - Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.
Total Tool Changing Cost - Total Tool Changing Cost involves accounting for both the direct and indirect expenses related to the tool change process.
Total Cost of Tools Used - Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.
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.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 30000 --> No Conversion Required
Total Non Productive Cost: 10 --> No Conversion Required
Total Tool Changing Cost: 75 --> No Conversion Required
Total Cost of Tools Used: 29815 --> No Conversion Required
Cost of a Tool: 43.47826 --> No Conversion Required
Batch Size: 2 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

T = (C_p-(C_np+C_t+c))/(C*B) --> (30000-(10+75+29815))/(43.47826*2)

Evaluating ... ...

T = 1.150000023

STEP 3: Convert Result to Output's Unit

1.150000023 Second --> No Conversion Required

FINAL ANSWER

1.150000023 ≈ 1.15 Second <-- Machining Time

(Calculation completed in 00.020 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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< Individual Cost Calculators

Setup Time for Each Product given Individual Costs

LaTeX Go Setup Time = (Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size)

Non-Productive Cost of One Component given Individual Costs

LaTeX Go Non Average Production Cost = (Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/Batch Size

Total Non-Productive Cost given Individual Costs

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 given Individual Costs

LaTeX Go Total Production Cost = Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used

Machining Time for Each Product given Individual Costs Formula

LaTeX Go

Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size)
T = (C_p-(C_np+C_t+c))/(C*B)

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 Time for Each Product given Individual Costs?

Machining Time for Each Product given Individual Costs calculator uses Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size) to calculate the Machining Time, The Machining Time for Each Product given Individual Costs is a method to determine the maximum time that can be given to a single component on one or more machines for production, based on the cost of different activities of production of a batch of components. Machining Time is denoted by T symbol.

How to calculate Machining Time for Each Product given Individual Costs using this online calculator? To use this online calculator for Machining Time for Each Product given Individual Costs, enter Total Production Cost (C_p), Total Non Productive Cost (C_np), Total Tool Changing Cost (C_t), Total Cost of Tools Used (c), Cost of a Tool (C) & Batch Size (B) and hit the calculate button. Here is how the Machining Time for Each Product given Individual Costs calculation can be explained with given input values -> 0.003977 = (30000-(10+75+29815))/(43.47826*2).

FAQ

What is Machining Time for Each Product given Individual Costs?

The Machining Time for Each Product given Individual Costs is a method to determine the maximum time that can be given to a single component on one or more machines for production, based on the cost of different activities of production of a batch of components and is represented as T = (C_p-(C_np+C_t+c))/(C*B) or Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size). Total Production Cost involves summing up various cost components associated with the machining process, Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components, Total Tool Changing Cost involves accounting for both the direct and indirect expenses related to the tool change process, Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process, 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.

How to calculate Machining Time for Each Product given Individual Costs?

The Machining Time for Each Product given Individual Costs is a method to determine the maximum time that can be given to a single component on one or more machines for production, based on the cost of different activities of production of a batch of components is calculated using Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size). To calculate Machining Time for Each Product given Individual Costs, you need Total Production Cost (C_p), Total Non Productive Cost (C_np), Total Tool Changing Cost (C_t), Total Cost of Tools Used (c), Cost of a Tool (C) & Batch Size (B). With our tool, you need to enter the respective value for Total Production Cost, Total Non Productive Cost, Total Tool Changing Cost, Total Cost of Tools Used, Cost of a Tool & Batch Size 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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