Minimum Cost of Machining per component Calculator

✖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%
✖Machining Time For Minimum Cost is the time for processing when the workpiece is machined to obtain the minimum cost of Machining.ⓘ Machining Time For Minimum Cost [t_mc]			+10% -10%
✖Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.ⓘ Taylor's Tool Life Exponent [n]			+10% -10%

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

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Minimum Cost of Machining per component Solution

STEP 0: Pre-Calculation Summary

Formula Used

Machining And Operating Cost of Each Product = Machining And Operating Rate*Machining Time For Minimum Cost/(1-Taylor's Tool Life Exponent)
C_m = M*t_mc/(1-n)
This formula uses 4 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 And Operating Rate - Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Machining Time For Minimum Cost - (Measured in Second) - Machining Time For Minimum Cost is the time for processing when the workpiece is machined to obtain the minimum cost of Machining.
Taylor's Tool Life Exponent - Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.

STEP 1: Convert Input(s) to Base Unit

Machining And Operating Rate: 101 --> No Conversion Required
Machining Time For Minimum Cost: 44.5545 Second --> 44.5545 Second No Conversion Required
Taylor's Tool Life Exponent: 0.032362 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_m = M*t_mc/(1-n) --> 101*44.5545/(1-0.032362)

Evaluating ... ...

C_m = 4650.50411414186

STEP 3: Convert Result to Output's Unit

4650.50411414186 --> No Conversion Required

FINAL ANSWER

4650.50411414186 ≈ 4650.504 <-- 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

Parul Keshav has verified this Calculator and 400+ more calculators!

< 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

Minimum Cost of Machining per component Formula

LaTeX Go

Machining And Operating Cost of Each Product = Machining And Operating Rate*Machining Time For Minimum Cost/(1-Taylor's Tool Life Exponent)
C_m = M*t_mc/(1-n)

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 Minimum Cost of Machining per component?

Minimum Cost of Machining per component calculator uses Machining And Operating Cost of Each Product = Machining And Operating Rate*Machining Time For Minimum Cost/(1-Taylor's Tool Life Exponent) to calculate the Machining And Operating Cost of Each Product, The Minimum Cost of Machining per component is defined as the minimum 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 Minimum Cost of Machining per component using this online calculator? To use this online calculator for Minimum Cost of Machining per component, enter Machining And Operating Rate (M), Machining Time For Minimum Cost (t_mc) & Taylor's Tool Life Exponent (n) and hit the calculate button. Here is how the Minimum Cost of Machining per component calculation can be explained with given input values -> 4650.504 = 101*44.5545/(1-0.032362).

FAQ

What is Minimum Cost of Machining per component?

The Minimum Cost of Machining per component is defined as the minimum capital that must be invested for machining and operating processes to be afforded on a single product and is represented as C_m = M*t_mc/(1-n) or Machining And Operating Cost of Each Product = Machining And Operating Rate*Machining Time For Minimum Cost/(1-Taylor's Tool Life Exponent). Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads, Machining Time For Minimum Cost is the time for processing when the workpiece is machined to obtain the minimum cost of Machining & Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.

How to calculate Minimum Cost of Machining per component?

The Minimum Cost of Machining per component is defined as the minimum 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 And Operating Rate*Machining Time For Minimum Cost/(1-Taylor's Tool Life Exponent). To calculate Minimum Cost of Machining per component, you need Machining And Operating Rate (M), Machining Time For Minimum Cost (t_mc) & Taylor's Tool Life Exponent (n). With our tool, you need to enter the respective value for Machining And Operating Rate, Machining Time For Minimum Cost & Taylor's Tool Life Exponent 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 And Operating Rate, Machining Time For Minimum Cost & Taylor's Tool Life Exponent. 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 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))

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