Profit per Component produced given Profit Rate Calculator

✖Average Production Time is the time taken to produce a single component out of a lot of produced batches.ⓘ Average Production Time [t_p]			+10% -10%
✖Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.ⓘ Maximum Profit Rate [MPR]			+10% -10%

✖Profit Per Component is the net profit the machine shop makes when it delivers one produced component.ⓘ Profit per Component produced given Profit Rate [P]

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Profit per Component produced given Profit Rate Solution

STEP 0: Pre-Calculation Summary

Formula Used

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

Variables Used

Profit Per Component - Profit Per Component is the net profit the machine shop makes when it delivers one produced component.
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.
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

Average Production Time: 10.1 Minute --> 606 Second (Check conversion here)
Maximum Profit Rate: 8.25082 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

P = t_p*MPR --> 606*8.25082

Evaluating ... ...

P = 4999.99692

STEP 3: Convert Result to Output's Unit

4999.99692 --> No Conversion Required

FINAL ANSWER

4999.99692 ≈ 4999.997 <-- Profit Per Component

(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

Profit per Component produced given Profit Rate Formula

LaTeX Go

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

Maximum Rate of Profit

If in a Machining Operation, Minimum Production Cost Criteria is chosen, the production time will increase. Similarly, if Minimum Production Time Criteria is chosen, the production cost will increase. To compromise between these two, the Maximum Rate of Profit is considered.

How to Calculate Profit per Component produced given Profit Rate?

Profit per Component produced given Profit Rate calculator uses Profit Per Component = Average Production Time*Maximum Profit Rate to calculate the Profit Per Component, The Profit per Component produced given Profit Rate is a method to determine the profit the machine shop makes on delivering a single produced component. Profit Per Component is denoted by P symbol.

How to calculate Profit per Component produced given Profit Rate using this online calculator? To use this online calculator for Profit per Component produced given Profit Rate, enter Average Production Time (t_p) & Maximum Profit Rate (MPR) and hit the calculate button. Here is how the Profit per Component produced given Profit Rate calculation can be explained with given input values -> 2787.6 = 606*8.25082.

FAQ

What is Profit per Component produced given Profit Rate?

The Profit per Component produced given Profit Rate is a method to determine the profit the machine shop makes on delivering a single produced component and is represented as P = t_p*MPR or Profit Per Component = Average Production Time*Maximum Profit Rate. Average Production Time is the time taken to produce a single component out of a lot of produced batches & Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.

How to calculate Profit per Component produced given Profit Rate?

The Profit per Component produced given Profit Rate is a method to determine the profit the machine shop makes on delivering a single produced component is calculated using Profit Per Component = Average Production Time*Maximum Profit Rate. To calculate Profit per Component produced given Profit Rate, you need Average Production Time (t_p) & Maximum Profit Rate (MPR). With our tool, you need to enter the respective value for Average Production Time & 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 Profit Per Component?

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

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

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