Tool Changing Time for Each Tool given Total Production Cost Calculator

✖Total Production Cost involves summing up various cost components associated with the machining process.ⓘ Total Production Cost [C_tp]			+10% -10%
✖Batch size refers to the number of identical parts produced in a single production run or cycle.ⓘ Batch Size [N]			+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%
✖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 [t_s]			+10% -10%
✖Machining time refers to the total time required to complete a specific machining operation on a workpiece.ⓘ Machining Time [t]			+10% -10%
✖The Number of Tools Used is the total number of tools used for manufacturing a batch of products.ⓘ Number of Tools Used [N_t]			+10% -10%

✖Time to change one tool often referred to as tool change time, includes the duration taken to remove the used tool and install a new one.ⓘ Tool Changing Time for Each Tool given Total Production Cost [t_c]

⎘ Copy

👎

Formula

LaTeX

Reset

👍

Download Metal Machining Formula PDF PDF Image

Tool Changing Time for Each Tool given Total Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Time to Change One Tool = (Total Production Cost-Batch Size*Cost of a Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of a Tool)/(Cost of a Tool*Number of Tools Used)
t_c = (C_tp-N*C*(t_s+t)-N_t*C)/(C*N_t)
This formula uses 7 Variables

Variables Used

Time to Change One Tool - (Measured in Second) - Time to change one tool often referred to as tool change time, includes the duration taken to remove the used tool and install a new one.
Total Production Cost - Total Production Cost involves summing up various cost components associated with the machining process.
Batch Size - Batch size refers to the number of identical parts produced in a single production run or cycle.
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.
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.
Machining Time - (Measured in Second) - Machining time refers to the total time required to complete a specific machining operation on a workpiece.
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 30000 --> No Conversion Required
Batch Size: 2 --> No Conversion Required
Cost of a Tool: 80 --> No Conversion Required
Setup Time: 54 Second --> 54 Second No Conversion Required
Machining Time: 87 Second --> 87 Second No Conversion Required
Number of Tools Used: 3 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

t_c = (C_tp-N*C*(t_s+t)-N_t*C)/(C*N_t) --> (30000-2*80*(54+87)-3*80)/(80*3)

Evaluating ... ...

t_c = 30

STEP 3: Convert Result to Output's Unit

30 Second --> No Conversion Required

FINAL ANSWER

30 Second <-- Time to Change One Tool

(Calculation completed in 00.020 seconds)

You are here -

Home » Engineering » Production Engineering » Metal Machining » Metal Machining Economics » Production Cost » Total Production Cost » Tool Changing Time for Each Tool given Total Production Cost

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!

< Total Production Cost Calculators

Non-Productive Cost of Each Component given Total Production Cost

LaTeX Go Non Productive Cost of Each Component = Total Production Cost-(Batch Size*Cost of a Tool*Machining Time+Number of Tools Used*((Cost of a Tool*Time to Change One Tool)+Cost of a Tool))

Total Production Cost

LaTeX Go Total Production Cost = Batch Size*(Cost of a Tool*(Setup Time+Machining Time))+Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool)

Total Non-Productive Cost given Total Production Cost

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 for given Batch Size

LaTeX Go Total Production Cost = Batch Size*Production Cost of Each Component

Tool Changing Time for Each Tool given Total Production Cost Formula

LaTeX Go

Significance of Total Tool Changing Time

The Total Tool Changing Time denotes the time being spent on an important but non-profitable process that is changing the Machining tool. This results in extra cost factors being accounted for as the operators are usually waged per hour or day. It is preferred that the Total Tool Changing Time in a Production Line is low so as there is a low expense on these non-profitable tasks.

How to Calculate Tool Changing Time for Each Tool given Total Production Cost?

Tool Changing Time for Each Tool given Total Production Cost calculator uses Time to Change One Tool = (Total Production Cost-Batch Size*Cost of a Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of a Tool)/(Cost of a Tool*Number of Tools Used) to calculate the Time to Change One Tool, Tool Changing Time for Each Tool given Total Production Cost is a method to determine the maximum time that can be spared on each tool to be spent for changing based on the total expense production. Time to Change One Tool is denoted by t_c symbol.

How to calculate Tool Changing Time for Each Tool given Total Production Cost using this online calculator? To use this online calculator for Tool Changing Time for Each Tool given Total Production Cost, enter Total Production Cost (C_tp), Batch Size (N), Cost of a Tool (C), Setup Time (t_s), Machining Time (t) & Number of Tools Used (N_t) and hit the calculate button. Here is how the Tool Changing Time for Each Tool given Total Production Cost calculation can be explained with given input values -> 0.008333 = (30000-2*80*(54+87)-3*80)/(80*3).

FAQ

What is Tool Changing Time for Each Tool given Total Production Cost?

Tool Changing Time for Each Tool given Total Production Cost is a method to determine the maximum time that can be spared on each tool to be spent for changing based on the total expense production and is represented as t_c = (C_tp-N*C*(t_s+t)-N_t*C)/(C*N_t) or Time to Change One Tool = (Total Production Cost-Batch Size*Cost of a Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of a Tool)/(Cost of a Tool*Number of Tools Used). Total Production Cost involves summing up various cost components associated with the machining process, Batch size refers to the number of identical parts produced in a single production run or cycle, 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, Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component, Machining time refers to the total time required to complete a specific machining operation on a workpiece & The Number of Tools Used is the total number of tools used for manufacturing a batch of products.

How to calculate Tool Changing Time for Each Tool given Total Production Cost?

Tool Changing Time for Each Tool given Total Production Cost is a method to determine the maximum time that can be spared on each tool to be spent for changing based on the total expense production is calculated using Time to Change One Tool = (Total Production Cost-Batch Size*Cost of a Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of a Tool)/(Cost of a Tool*Number of Tools Used). To calculate Tool Changing Time for Each Tool given Total Production Cost, you need Total Production Cost (C_tp), Batch Size (N), Cost of a Tool (C), Setup Time (t_s), Machining Time (t) & Number of Tools Used (N_t). With our tool, you need to enter the respective value for Total Production Cost, Batch Size, Cost of a Tool, Setup Time, Machining Time & Number of Tools Used 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 Time to Change One Tool?

In this formula, Time to Change One Tool uses Total Production Cost, Batch Size, Cost of a Tool, Setup Time, Machining Time & Number of Tools Used. We can use 2 other way(s) to calculate the same, which is/are as follows -

Time to Change One Tool = Total Tool Changing Time/Number of Tools Used
Time to Change One Tool = (Total Production Cost-(Total Cost of Tools Used+Total Machining And Operating Cost+Total Non Productive Cost))/(Number of Tools Used*Cost of a Tool)

Home

FREE PDFs

🔍 Search