Operator's Wage Rate given Machining and Operating Rate 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%
✖Depreciation Rate is the rate at which the machine is depreciated across the estimated productive life of the machine.ⓘ Depreciation Rate [M_t]			+10% -10%
✖Machine Overhead Percentage is the percentage of Capital spent on it, regardless of any work it performs.ⓘ Machine Overhead Percentage [%_mach]			+10% -10%
✖Operator's Overhead Percentage is the percentage of his wage Rate spent indirectly on him, regardless of any revenue generated.ⓘ Operator's Overhead Percentage [%_opt]			+10% -10%

✖Wage Rate is defined as the worker's/operator's rate of pay.ⓘ Operator's Wage Rate given Machining and Operating Rate [W_o]

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Operator's Wage Rate given Machining and Operating Rate Solution

STEP 0: Pre-Calculation Summary

Formula Used

Wage Rate = (Machining and Operating Rate-(Depreciation Rate*(100+Machine Overhead Percentage)/100))*100/(100+Operator's Overhead Percentage)
W_o = (M-(M_t*(100+%_mach)/100))*100/(100+%_opt)
This formula uses 5 Variables

Variables Used

Wage Rate - Wage Rate is defined as the worker's/operator's rate of pay.
Machining and Operating Rate - Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Depreciation Rate - Depreciation Rate is the rate at which the machine is depreciated across the estimated productive life of the machine.
Machine Overhead Percentage - Machine Overhead Percentage is the percentage of Capital spent on it, regardless of any work it performs.
Operator's Overhead Percentage - Operator's Overhead Percentage is the percentage of his wage Rate spent indirectly on him, regardless of any revenue generated.

STEP 1: Convert Input(s) to Base Unit

Machining and Operating Rate: 100 --> No Conversion Required
Depreciation Rate: 0.1 --> No Conversion Required
Machine Overhead Percentage: 75 --> No Conversion Required
Operator's Overhead Percentage: 20 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

W_o = (M-(M_t*(100+%_mach)/100))*100/(100+%_opt) --> (100-(0.1*(100+75)/100))*100/(100+20)

Evaluating ... ...

W_o = 83.1875

STEP 3: Convert Result to Output's Unit

83.1875 --> No Conversion Required

FINAL ANSWER

83.1875 <-- Wage Rate

(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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Operator's Overhead Percentage given Machining and Operating Rate

LaTeX Go Operator's Overhead Percentage = ((Machining and Operating Rate-(Depreciation Rate*(100+Machine Overhead Percentage)/100))*100/Wage Rate)-100

Machine Overhead Percentage given Machining and Operating Rate

LaTeX Go Machine Overhead Percentage = ((Machining and Operating Rate-(Wage Rate*(100+Operator's Overhead Percentage)/100))*100/Depreciation Rate)-100

Operator's Wage Rate given Machining and Operating Rate

LaTeX Go Wage Rate = (Machining and Operating Rate-(Depreciation Rate*(100+Machine Overhead Percentage)/100))*100/(100+Operator's Overhead Percentage)

Machining and Operating Rate

LaTeX Go Machining and Operating Rate = (Wage Rate*(100+Operator's Overhead Percentage)/100)+(Depreciation Rate*(100+Machine Overhead Percentage)/100)

Operator's Wage Rate given Machining and Operating Rate Formula

LaTeX Go

Wage Rate = (Machining and Operating Rate-(Depreciation Rate*(100+Machine Overhead Percentage)/100))*100/(100+Operator's Overhead Percentage)
W_o = (M-(M_t*(100+%_mach)/100))*100/(100+%_opt)

Operator's Overhead Cost

Operator's Overhead Cost refers to the ongoing expenses spent by the firm on the operators apart from his usual wage rate, which not directly attributes to creating a product or service. These often include the capital spent on facilities, insurance, etc.

How to Calculate Operator's Wage Rate given Machining and Operating Rate?

Operator's Wage Rate given Machining and Operating Rate calculator uses Wage Rate = (Machining and Operating Rate-(Depreciation Rate*(100+Machine Overhead Percentage)/100))*100/(100+Operator's Overhead Percentage) to calculate the Wage Rate, The Operator's Wage Rate given Machining and Operating Rate is a method to determine the maximum rate of Pay to the operator when total expense on Machining and Operating is limited. Wage Rate is denoted by W_o symbol.

How to calculate Operator's Wage Rate given Machining and Operating Rate using this online calculator? To use this online calculator for Operator's Wage Rate given Machining and Operating Rate, enter Machining and Operating Rate (M), Depreciation Rate (M_t), Machine Overhead Percentage (%_mach) & Operator's Overhead Percentage (%_opt) and hit the calculate button. Here is how the Operator's Wage Rate given Machining and Operating Rate calculation can be explained with given input values -> 83.1875 = (100-(0.1*(100+75)/100))*100/(100+20).

FAQ

What is Operator's Wage Rate given Machining and Operating Rate?

The Operator's Wage Rate given Machining and Operating Rate is a method to determine the maximum rate of Pay to the operator when total expense on Machining and Operating is limited and is represented as W_o = (M-(M_t*(100+%_mach)/100))*100/(100+%_opt) or Wage Rate = (Machining and Operating Rate-(Depreciation Rate*(100+Machine Overhead Percentage)/100))*100/(100+Operator's Overhead Percentage). Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads, Depreciation Rate is the rate at which the machine is depreciated across the estimated productive life of the machine, Machine Overhead Percentage is the percentage of Capital spent on it, regardless of any work it performs & Operator's Overhead Percentage is the percentage of his wage Rate spent indirectly on him, regardless of any revenue generated.

How to calculate Operator's Wage Rate given Machining and Operating Rate?

The Operator's Wage Rate given Machining and Operating Rate is a method to determine the maximum rate of Pay to the operator when total expense on Machining and Operating is limited is calculated using Wage Rate = (Machining and Operating Rate-(Depreciation Rate*(100+Machine Overhead Percentage)/100))*100/(100+Operator's Overhead Percentage). To calculate Operator's Wage Rate given Machining and Operating Rate, you need Machining and Operating Rate (M), Depreciation Rate (M_t), Machine Overhead Percentage (%_mach) & Operator's Overhead Percentage (%_opt). With our tool, you need to enter the respective value for Machining and Operating Rate, Depreciation Rate, Machine Overhead Percentage & Operator's Overhead Percentage 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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