Production Time per component given Profit Rate Calculator

✖Amount Received For Each Component is the amount of money the machine shop receives for machining each component.ⓘ Amount Received For Each Component [S]			+10% -10%
✖Production Cost of Each Component is the total amount that it takes to produce a single component from scratch.ⓘ Production Cost of Each Component [C_pr]			+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 Rate [t_p]

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Production Time per component given Profit Rate Solution

STEP 0: Pre-Calculation Summary

Formula Used

Average Production Time = (Amount Received For Each Component-Production Cost of Each Component)/Maximum Profit Rate
t_p = (S-C_pr)/MPR
This formula uses 4 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.
Amount Received For Each Component - Amount Received For Each Component is the amount of money the machine shop receives for machining each component.
Production Cost of Each Component - Production Cost of Each Component is the total amount that it takes to produce a single component from scratch.
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

Amount Received For Each Component: 20000 --> No Conversion Required
Production Cost of Each Component: 15000 --> No Conversion Required
Maximum Profit Rate: 8.25082 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

t_p = (S-C_pr)/MPR --> (20000-15000)/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 00.020 seconds)

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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 Rate Formula

LaTeX Go

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

Production Time per component given Profit Rate calculator uses Average Production Time = (Amount Received For Each Component-Production Cost of Each Component)/Maximum Profit Rate to calculate the Average Production Time, The Production Time per component given Profit Rate is a method to determine the maximum time that can be given for the production of a component for a required profit in unit time is given. Average Production Time is denoted by t_p symbol.

How to calculate Production Time per component given Profit Rate using this online calculator? To use this online calculator for Production Time per component given Profit Rate, enter Amount Received For Each Component (S), Production Cost of Each Component (C_pr) & Maximum Profit Rate (MPR) and hit the calculate button. Here is how the Production Time per component given Profit Rate calculation can be explained with given input values -> 0.301932 = (20000-15000)/8.25082.

FAQ

What is Production Time per component given Profit Rate?

The Production Time per component given Profit Rate is a method to determine the maximum time that can be given for the production of a component for a required profit in unit time is given and is represented as t_p = (S-C_pr)/MPR or Average Production Time = (Amount Received For Each Component-Production Cost of Each Component)/Maximum Profit Rate. Amount Received For Each Component is the amount of money the machine shop receives for machining each component, Production Cost of Each Component is the total amount that it takes to produce a single component from scratch & Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.

How to calculate Production Time per component given Profit Rate?

The Production Time per component given Profit Rate is a method to determine the maximum time that can be given for the production of a component for a required profit in unit time is given is calculated using Average Production Time = (Amount Received For Each Component-Production Cost of Each Component)/Maximum Profit Rate. To calculate Production Time per component given Profit Rate, you need Amount Received For Each Component (S), Production Cost of Each Component (C_pr) & Maximum Profit Rate (MPR). With our tool, you need to enter the respective value for Amount Received For Each Component, Production Cost of Each 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 Amount Received For Each Component, Production Cost of Each Component & Maximum Profit Rate. We can use 1 other way(s) to calculate the same, which is/are as follows -

Average Production Time = Profit Per Component/Maximum Profit Rate

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