Tool Changing Cost per Tool given Machining Cost Calculator

✖Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.ⓘ Tool Life [T]			+10% -10%
✖Machining And Operating Cost of Each Product is the total amount of money required to machine a single product.ⓘ Machining And Operating Cost of Each Product [C_m]			+10% -10%
✖Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material.ⓘ Machining Time [t_m]			+10% -10%
✖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%
✖Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.ⓘ Time Proportion of Cutting Edge Engagement [Q]			+10% -10%
✖Cost of A Tool is simply the cost of one tool being used for machining.ⓘ Cost of A Tool [C_t]			+10% -10%

✖Cost of Changing Each Tool is the cost that arises due to the time taken by the operator to change one tool when he is paid by the hour.ⓘ Tool Changing Cost per Tool given Machining Cost [C_ct]

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Tool Changing Cost per Tool given Machining Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Cost of Changing Each Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of A Tool
C_ct = (T*((C_m/t_m)-M)/Q)-C_t
This formula uses 7 Variables

Variables Used

Cost of Changing Each Tool - Cost of Changing Each Tool is the cost that arises due to the time taken by the operator to change one tool when he is paid by the hour.
Tool Life - (Measured in Second) - Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.
Machining And Operating Cost of Each Product - Machining And Operating Cost of Each Product is the total amount of money required to machine a single product.
Machining Time - (Measured in Second) - Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material.
Machining And Operating Rate - Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Time Proportion of Cutting Edge Engagement - Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.
Cost of A Tool - Cost of A Tool is simply the cost of one tool being used for machining.

STEP 1: Convert Input(s) to Base Unit

Tool Life: 4500 Second --> 4500 Second No Conversion Required
Machining And Operating Cost of Each Product: 4650.5 --> No Conversion Required
Machining Time: 30 Second --> 30 Second No Conversion Required
Machining And Operating Rate: 101 --> No Conversion Required
Time Proportion of Cutting Edge Engagement: 0.5 --> No Conversion Required
Cost of A Tool: 478575 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_ct = (T*((C_m/t_m)-M)/Q)-C_t --> (4500*((4650.5/30)-101)/0.5)-478575

Evaluating ... ...

C_ct = 7575.00000000012

STEP 3: Convert Result to Output's Unit

7575.00000000012 --> No Conversion Required

FINAL ANSWER

7575.00000000012 ≈ 7575 <-- Cost of Changing Each Tool

(Calculation completed in 00.004 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

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< Tool Cost Calculators

Tool Changing Time for 1 Tool given Machining Cost

LaTeX Go Time to Change One Tool = ((Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of A Tool)/Machining And Operating Rate

Cost of 1 Tool given Machining Cost

LaTeX Go Cost of A Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining And Operating Rate*Time to Change One Tool)

Time Proportion of Cutting Edge Engagement given Machining Cost

LaTeX Go Time Proportion of Cutting Edge Engagement = Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/(Machining And Operating Rate*Time to Change One Tool+Cost of A Tool)

Tool Changing Cost per Tool given Machining Cost

LaTeX Go Cost of Changing Each Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of A Tool

Tool Changing Cost per Tool given Machining Cost Formula

LaTeX Go

How is Tool-Changing Cost generated?

The tool-changing cost is generated on the processes that basically include changing or re-sharpening the tool. These do not result in any productivity or profit whatsoever. But as the time is consumed by the operator to perform these tasks, when paid by the hour, the operators cost plants this time too.

How to Calculate Tool Changing Cost per Tool given Machining Cost?

Tool Changing Cost per Tool given Machining Cost calculator uses Cost of Changing Each Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of A Tool to calculate the Cost of Changing Each Tool, The Tool Changing Cost per Tool given Machining Cost is a method to determine the cost that arises due to the time taken by the operator in changing 1 Cutting Tool when he is paid by the hour, based on the expense on to machine 1 component. Cost of Changing Each Tool is denoted by C_ct symbol.

How to calculate Tool Changing Cost per Tool given Machining Cost using this online calculator? To use this online calculator for Tool Changing Cost per Tool given Machining Cost, enter Tool Life (T), Machining And Operating Cost of Each Product (C_m), Machining Time (t_m), Machining And Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Cost of A Tool (C_t) and hit the calculate button. Here is how the Tool Changing Cost per Tool given Machining Cost calculation can be explained with given input values -> 7575 = (4500*((4650.5/30)-101)/0.5)-478575.

FAQ

What is Tool Changing Cost per Tool given Machining Cost?

The Tool Changing Cost per Tool given Machining Cost is a method to determine the cost that arises due to the time taken by the operator in changing 1 Cutting Tool when he is paid by the hour, based on the expense on to machine 1 component and is represented as C_ct = (T*((C_m/t_m)-M)/Q)-C_t or Cost of Changing Each Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of A Tool. Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations, Machining And Operating Cost of Each Product is the total amount of money required to machine a single product, Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material, Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads, Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece & Cost of A Tool is simply the cost of one tool being used for machining.

How to calculate Tool Changing Cost per Tool given Machining Cost?

The Tool Changing Cost per Tool given Machining Cost is a method to determine the cost that arises due to the time taken by the operator in changing 1 Cutting Tool when he is paid by the hour, based on the expense on to machine 1 component is calculated using Cost of Changing Each Tool = (Tool Life*((Machining And Operating Cost of Each Product/Machining Time)-Machining And Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of A Tool. To calculate Tool Changing Cost per Tool given Machining Cost, you need Tool Life (T), Machining And Operating Cost of Each Product (C_m), Machining Time (t_m), Machining And Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Cost of A Tool (C_t). With our tool, you need to enter the respective value for Tool Life, Machining And Operating Cost of Each Product, Machining Time, Machining And Operating Rate, Time Proportion of Cutting Edge Engagement & Cost of A Tool 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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