Total Cost of Tools 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%
✖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_ct]			+10% -10%
✖Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.ⓘ Total Non Productive Cost [T_npc]			+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 given Total Production Cost [C_t]

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Total Cost of Tools given Total Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost)
C_t = C_tp-(C_m+C_ct+T_npc)
This formula uses 5 Variables

Variables Used

Total Cost of Tools Used - Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.
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 Non Productive Cost - Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.

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: 7200 --> No Conversion Required
Total Non Productive Cost: 22460 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_t = C_tp-(C_m+C_ct+T_npc) --> 30000-(100+7200+22460)

Evaluating ... ...

C_t = 240

STEP 3: Convert Result to Output's Unit

240 --> No Conversion Required

FINAL ANSWER

240 <-- Total Cost of Tools Used

(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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< 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

Total Cost of Tools given Total Production Cost Formula

LaTeX Go

Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost)
C_t = C_tp-(C_m+C_ct+T_npc)

Significance of Total Cost of Tools Used

The Total Cost of Tools Used helps us in determining the maximum amount of tool that can be renewed during the production of a given batch of products. This renewing might include buying or resharpening the tool.
Thus if the number of Tools to be used gets bounded, the machining operation would have to be optimized in order to give sufficient tool life to survive against the boundation.

How to Calculate Total Cost of Tools given Total Production Cost?

Total Cost of Tools given Total Production Cost calculator uses Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost) to calculate the Total Cost of Tools Used, The Total Cost of Tools given Total Production Cost is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components. Total Cost of Tools Used is denoted by C_t symbol.

How to calculate Total Cost of Tools given Total Production Cost using this online calculator? To use this online calculator for Total Cost of Tools given Total Production Cost, enter Total Production Cost (C_tp), Total Machining And Operating Cost (C_m), Total Tool Changing Cost (C_ct) & Total Non Productive Cost (T_npc) and hit the calculate button. Here is how the Total Cost of Tools given Total Production Cost calculation can be explained with given input values -> -6420 = 30000-(100+7200+22460).

FAQ

What is Total Cost of Tools given Total Production Cost?

The Total Cost of Tools given Total Production Cost is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components and is represented as C_t = C_tp-(C_m+C_ct+T_npc) or Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost). 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 Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.

How to calculate Total Cost of Tools given Total Production Cost?

The Total Cost of Tools given Total Production Cost is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components is calculated using Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost). To calculate Total Cost of Tools given Total Production Cost, you need Total Production Cost (C_tp), Total Machining And Operating Cost (C_m), Total Tool Changing Cost (C_ct) & Total Non Productive Cost (T_npc). With our tool, you need to enter the respective value for Total Production Cost, Total Machining And Operating Cost, Total Tool Changing Cost & Total Non Productive Cost 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 Total Cost of Tools Used?

In this formula, Total Cost of Tools Used uses Total Production Cost, Total Machining And Operating Cost, Total Tool Changing Cost & Total Non Productive Cost. We can use 1 other way(s) to calculate the same, which is/are as follows -

Total Cost of Tools Used = Number of Tools Used*Cost of a Tool

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