Production Time per component given Profit Calculator

✖Profit Per Component is the net profit the machine shop makes when it delivers one produced component.ⓘ Profit Per Component [P]			+10% -10%
✖Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.ⓘ Maximum Profit Rate [MPR]			+10% -10%

✖Average Production Time is the time taken to produce a single component out of a lot of produced batches.ⓘ Production Time per component given Profit [t_p]

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Production Time per component given Profit Solution

STEP 0: Pre-Calculation Summary

Formula Used

Average Production Time = Profit Per Component/Maximum Profit Rate
t_p = P/MPR
This formula uses 3 Variables

Variables Used

Average Production Time - (Measured in Second) - Average Production Time is the time taken to produce a single component out of a lot of produced batches.
Profit Per Component - Profit Per Component is the net profit the machine shop makes when it delivers one produced component.
Maximum Profit Rate - Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.

STEP 1: Convert Input(s) to Base Unit

Profit Per Component: 5000 --> No Conversion Required
Maximum Profit Rate: 8.25082 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

t_p = P/MPR --> 5000/8.25082

Evaluating ... ...

t_p = 606.00037329623

STEP 3: Convert Result to Output's Unit

606.00037329623 Second -->10.1000062216038 Minute (Check conversion here)

FINAL ANSWER

10.1000062216038 ≈ 10.10001 Minute <-- Average Production Time

(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!

< Maximum Efficiency Calculators

Rate of Profit

LaTeX Go Maximum Profit Rate = (Amount Received For Each Component-Production Cost of Each Component)/Average Production Time

Amount Received by Machine Shop given Profit per Component

LaTeX Go Amount Received For Each Component = Profit Per Component+Production Cost of Each Component

Cost of Production given Profit per Component

LaTeX Go Production Cost of Each Component = Amount Received For Each Component-Profit Per Component

Profit per component produced

LaTeX Go Profit Per Component = Amount Received For Each Component-Production Cost of Each Component

Production Time per component given Profit Formula

LaTeX Go

Average Production Time = Profit Per Component/Maximum Profit Rate
t_p = P/MPR

Importance of Production Time

The Production time and its proper estimation are of great help in determining:
1. Manufacturing Costs
2. Machine Work Loads
3. Personel Needs
4. Delivery Time

How to Calculate Production Time per component given Profit?

Production Time per component given Profit calculator uses Average Production Time = Profit Per Component/Maximum Profit Rate to calculate the Average Production Time, The Production Time per component given Profit is a method to determine the maximum time that can be given for the production of a component for a required profit. Average Production Time is denoted by t_p symbol.

How to calculate Production Time per component given Profit using this online calculator? To use this online calculator for Production Time per component given Profit, enter Profit Per Component (P) & Maximum Profit Rate (MPR) and hit the calculate button. Here is how the Production Time per component given Profit calculation can be explained with given input values -> 0.301932 = 5000/8.25082.

FAQ

What is Production Time per component given Profit?

The Production Time per component given Profit is a method to determine the maximum time that can be given for the production of a component for a required profit and is represented as t_p = P/MPR or Average Production Time = Profit Per Component/Maximum Profit Rate. Profit Per Component is the net profit the machine shop makes when it delivers one produced component & Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.

How to calculate Production Time per component given Profit?

The Production Time per component given Profit is a method to determine the maximum time that can be given for the production of a component for a required profit is calculated using Average Production Time = Profit Per Component/Maximum Profit Rate. To calculate Production Time per component given Profit, you need Profit Per Component (P) & Maximum Profit Rate (MPR). With our tool, you need to enter the respective value for Profit Per Component & Maximum Profit Rate 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 Average Production Time?

In this formula, Average Production Time uses Profit Per Component & Maximum Profit Rate. We can use 1 other way(s) to calculate the same, which is/are as follows -

Average Production Time = (Amount Received For Each Component-Production Cost of Each Component)/Maximum Profit Rate

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