Total Cost of Tools Used Calculator

✖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%
✖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%

✖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_t]

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Total Cost of Tools Used Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Cost of Tools Used = Number of Tools Used*Cost of a Tool
C_t = N_t*C
This formula uses 3 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.
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.
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.

STEP 1: Convert Input(s) to Base Unit

Number of Tools Used: 3 --> No Conversion Required
Cost of a Tool: 80 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_t = N_t*C --> 3*80

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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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

Total Cost of Tools Used Formula

LaTeX Go

Total Cost of Tools Used = Number of Tools Used*Cost of a Tool
C_t = N_t*C

Tool Failure and Need to change the Tool

The tool generally undergoes the following failure:
1. Fracture failure - Cutting force becomes excessive, leading to brittle fracture
2. Temperature failure - Cutting temperature is too high for the tool material
3. Gradual wear
Due to Wear, the sharpness of the Cutting edge of the tool is lost which leads to roughness and tolerances at the surface. To tackle this, the tool is usually sharpened rather than completely changed.

How to Calculate Total Cost of Tools Used?

Total Cost of Tools Used calculator uses Total Cost of Tools Used = Number of Tools Used*Cost of a Tool to calculate the Total Cost of Tools Used, The Total Cost of Tools Used is defined as the total amount it took to buy a sufficient number of Machining Tools to be used for manufacturing a batch of components. Total Cost of Tools Used is denoted by C_t symbol.

How to calculate Total Cost of Tools Used using this online calculator? To use this online calculator for Total Cost of Tools Used, enter Number of Tools Used (N_t) & Cost of a Tool (C) and hit the calculate button. Here is how the Total Cost of Tools Used calculation can be explained with given input values -> 240 = 3*80.

FAQ

What is Total Cost of Tools Used?

The Total Cost of Tools Used is defined as the total amount it took to buy a sufficient number of Machining Tools to be used for manufacturing a batch of components and is represented as C_t = N_t*C or Total Cost of Tools Used = Number of Tools Used*Cost of a Tool. The Number of Tools Used is the total number of tools used for manufacturing a batch of products & 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.

How to calculate Total Cost of Tools Used?

The Total Cost of Tools Used is defined as the total amount it took to buy a sufficient number of Machining Tools to be used for manufacturing a batch of components is calculated using Total Cost of Tools Used = Number of Tools Used*Cost of a Tool. To calculate Total Cost of Tools Used, you need Number of Tools Used (N_t) & Cost of a Tool (C). With our tool, you need to enter the respective value for Number of Tools Used & 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.

How many ways are there to calculate Total Cost of Tools Used?

In this formula, Total Cost of Tools Used uses Number of Tools Used & Cost of a Tool. We can use 1 other way(s) to calculate the same, which is/are as follows -

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

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