Machining Time for Each Product using 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%
✖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%
✖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%
✖Time to change one tool often referred to as tool change time, includes the duration taken to remove the used tool and install a new one.ⓘ Time to Change One Tool [t_c]			+10% -10%

✖Machining time refers to the total time required to complete a specific machining operation on a workpiece.ⓘ Machining Time for Each Product using Total Production Cost [t]

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Machining Time for Each Product using Total Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Machining Time = (Total Production Cost-Cost of a Tool*Batch Size*Setup Time-Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool))/(Cost of a Tool*Batch Size)
t = (C_tp-C*N*t_s-N_t*(C*t_c+C))/(C*N)
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.
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.
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.
Time to Change One Tool - (Measured in Second) - Time to change one tool often referred to as tool change time, includes the duration taken to remove the used tool and install a new one.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 30000 --> 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
Number of Tools Used: 3 --> No Conversion Required
Time to Change One Tool: 30 Second --> 30 Second No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

t = (C_tp-C*N*t_s-N_t*(C*t_c+C))/(C*N) --> (30000-80*2*54-3*(80*30+80))/(80*2)

Evaluating ... ...

t = 87

STEP 3: Convert Result to Output's Unit

87 Second --> No Conversion Required

FINAL ANSWER

87 Second <-- Machining Time

(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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Verified by Parul Keshav

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 Time for Each Product using 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 Time for Each Product using Total Production Cost?

Machining Time for Each Product using Total Production Cost calculator uses Machining Time = (Total Production Cost-Cost of a Tool*Batch Size*Setup Time-Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool))/(Cost of a Tool*Batch Size) to calculate the Machining Time, The Machining Time for Each Product using Total Production Cost 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 total cost of production of a batch. Machining Time is denoted by t symbol.

How to calculate Machining Time for Each Product using Total Production Cost using this online calculator? To use this online calculator for Machining Time for Each Product using Total Production Cost, enter Total Production Cost (C_tp), Cost of a Tool (C), Batch Size (N), Setup Time (t_s), Number of Tools Used (N_t) & Time to Change One Tool (t_c) and hit the calculate button. Here is how the Machining Time for Each Product using Total Production Cost calculation can be explained with given input values -> 87 = (30000-80*2*54-3*(80*30+80))/(80*2).

FAQ

What is Machining Time for Each Product using Total Production Cost?

The Machining Time for Each Product using Total Production Cost 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 total cost of production of a batch and is represented as t = (C_tp-C*N*t_s-N_t*(C*t_c+C))/(C*N) or Machining Time = (Total Production Cost-Cost of a Tool*Batch Size*Setup Time-Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool))/(Cost of a Tool*Batch Size). Total Production Cost involves summing up various cost components associated with the machining 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, Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component, The Number of Tools Used is the total number of tools used for manufacturing a batch of products & Time to change one tool often referred to as tool change time, includes the duration taken to remove the used tool and install a new one.

How to calculate Machining Time for Each Product using Total Production Cost?

The Machining Time for Each Product using Total Production Cost 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 total cost of production of a batch is calculated using Machining Time = (Total Production Cost-Cost of a Tool*Batch Size*Setup Time-Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool))/(Cost of a Tool*Batch Size). To calculate Machining Time for Each Product using Total Production Cost, you need Total Production Cost (C_tp), Cost of a Tool (C), Batch Size (N), Setup Time (t_s), Number of Tools Used (N_t) & Time to Change One Tool (t_c). With our tool, you need to enter the respective value for Total Production Cost, Cost of a Tool, Batch Size, Setup Time, Number of Tools Used & Time to Change One Tool 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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