Setup Time for Each Product given Individual Costs Calculator

✖Total Production Cost involves summing up various cost components associated with the machining process.ⓘ Total Production Cost [C_p]			+10% -10%
✖Total machining and operating cost involves considering various cost factors, including material costs, labor costs, machine operating costs, tool costs, overhead, and additional related expenses.ⓘ Total Machining and Operating Cost [C_m]			+10% -10%
✖Total Tool Changing Cost involves accounting for both the direct and indirect expenses related to the tool change process.ⓘ Total Tool Changing Cost [C_t]			+10% -10%
✖Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.ⓘ Total Cost of Tools Used [c]			+10% -10%
✖Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs.ⓘ Cost of a Tool [C]			+10% -10%
✖Batch size refers to the number of identical parts produced in a single production run or cycle.ⓘ Batch Size [B]			+10% -10%

✖Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.ⓘ Setup Time for Each Product given Individual Costs [t_s]

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Setup Time for Each Product given Individual Costs Solution

STEP 0: Pre-Calculation Summary

Formula Used

Setup Time = (Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size)
t_s = (C_p-(C_m+C_t+c))/(C*B)
This formula uses 7 Variables

Variables Used

Setup Time - (Measured in Second) - Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.
Total Production Cost - Total Production Cost involves summing up various cost components associated with the machining process.
Total Machining and Operating Cost - Total machining and operating cost involves considering various cost factors, including material costs, labor costs, machine operating costs, tool costs, overhead, and additional related expenses.
Total Tool Changing Cost - Total Tool Changing Cost involves accounting for both the direct and indirect expenses related to the tool change process.
Total Cost of Tools Used - Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.
Cost of a Tool - Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs.
Batch Size - Batch size refers to the number of identical parts produced in a single production run or cycle.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 30000 --> No Conversion Required
Total Machining and Operating Cost: 100 --> No Conversion Required
Total Tool Changing Cost: 75 --> No Conversion Required
Total Cost of Tools Used: 29815 --> No Conversion Required
Cost of a Tool: 43.47826 --> No Conversion Required
Batch Size: 2 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

t_s = (C_p-(C_m+C_t+c))/(C*B) --> (30000-(100+75+29815))/(43.47826*2)

Evaluating ... ...

t_s = 0.1150000023

STEP 3: Convert Result to Output's Unit

0.1150000023 Second --> No Conversion Required

FINAL ANSWER

0.1150000023 ≈ 0.115 Second <-- Setup 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

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< Individual Cost Calculators

Setup Time for Each Product given Individual Costs

LaTeX Go Setup Time = (Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size)

Non-Productive Cost of One Component given Individual Costs

LaTeX Go Non Average Production Cost = (Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/Batch Size

Total Non-Productive Cost given Individual Costs

LaTeX Go Total Non Productive Cost = Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used)

Total Production Cost given Individual Costs

LaTeX Go Total Production Cost = Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used

Setup Time for Each Product given Individual Costs Formula

LaTeX Go

Setup Time = (Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size)
t_s = (C_p-(C_m+C_t+c))/(C*B)

Importance of Setup Time

1) Impact on Efficiency: Setup time directly affects the overall production efficiency. Longer setup times can lead to increased downtime and reduced machine utilization.
2) Cost Implications: Setup time contributes to the non-productive cost, impacting the average production cost per component. Efficiently managing setup time can lower these costs.
3) Production Scheduling: Accurate estimation of setup time is crucial for effective production planning and scheduling.

How to Calculate Setup Time for Each Product given Individual Costs?

Setup Time for Each Product given Individual Costs calculator uses Setup Time = (Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size) to calculate the Setup Time, Setup Time for Each Product given Individual Costs refers to the time required to prepare a machine or production process for manufacturing a new product. This includes activities such as changing tools, fixtures, machine settings, calibration, and initial trial runs to ensure the machine is ready for production. Setup Time is denoted by t_s symbol.

How to calculate Setup Time for Each Product given Individual Costs using this online calculator? To use this online calculator for Setup Time for Each Product given Individual Costs, enter Total Production Cost (C_p), Total Machining and Operating Cost (C_m), Total Tool Changing Cost (C_t), Total Cost of Tools Used (c), Cost of a Tool (C) & Batch Size (B) and hit the calculate button. Here is how the Setup Time for Each Product given Individual Costs calculation can be explained with given input values -> 0.115 = (30000-(100+75+29815))/(43.47826*2).

FAQ

What is Setup Time for Each Product given Individual Costs?

Setup Time for Each Product given Individual Costs refers to the time required to prepare a machine or production process for manufacturing a new product. This includes activities such as changing tools, fixtures, machine settings, calibration, and initial trial runs to ensure the machine is ready for production and is represented as t_s = (C_p-(C_m+C_t+c))/(C*B) or Setup Time = (Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size). Total Production Cost involves summing up various cost components associated with the machining process, Total machining and operating cost involves considering various cost factors, including material costs, labor costs, machine operating costs, tool costs, overhead, and additional related expenses, Total Tool Changing Cost involves accounting for both the direct and indirect expenses related to the tool change process, Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process, Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs & Batch size refers to the number of identical parts produced in a single production run or cycle.

How to calculate Setup Time for Each Product given Individual Costs?

Setup Time for Each Product given Individual Costs refers to the time required to prepare a machine or production process for manufacturing a new product. This includes activities such as changing tools, fixtures, machine settings, calibration, and initial trial runs to ensure the machine is ready for production is calculated using Setup Time = (Total Production Cost-(Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size). To calculate Setup Time for Each Product given Individual Costs, you need Total Production Cost (C_p), Total Machining and Operating Cost (C_m), Total Tool Changing Cost (C_t), Total Cost of Tools Used (c), Cost of a Tool (C) & Batch Size (B). With our tool, you need to enter the respective value for Total Production Cost, Total Machining and Operating Cost, Total Tool Changing Cost, Total Cost of Tools Used, Cost of a Tool & Batch Size 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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