Total Cost of Tools Used 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 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 [C_np]			+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 given Individual Costs [c]

⎘ Copy

👎

Formula

LaTeX

Reset

👍

Download Production Engineering Formula PDF PDF Image

Total Cost of Tools Used given Individual Costs Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost)
c = C_p-(C_np+C_m+C_t)
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 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.
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.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 30000 --> No Conversion Required
Total Non Productive Cost: 10 --> No Conversion Required
Total Machining and Operating Cost: 100 --> No Conversion Required
Total Tool Changing Cost: 75 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

c = C_p-(C_np+C_m+C_t) --> 30000-(10+100+75)

Evaluating ... ...

c = 29815

STEP 3: Convert Result to Output's Unit

29815 --> No Conversion Required

FINAL ANSWER

29815 <-- Total Cost of Tools Used

(Calculation completed in 00.004 seconds)

You are here -

Home » Engineering » Production Engineering » Metal Machining » Metal Machining Economics » Production Cost » Individual Cost » Total Cost of Tools Used given Individual Costs

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!

< 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

Total Cost of Tools Used given Individual Costs Formula

LaTeX Go

Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost)
c = C_p-(C_np+C_m+C_t)

Components of Tool Cost

1) Initial Purchase Cost: The cost to acquire new tools.
2) Tool Wear and Replacement: The cost associated with replacing worn-out tools.
3) Maintenance and Sharpening: Costs for maintaining and sharpening tools to ensure optimal performance.
4)Tool Management: Costs related to the storage, handling, and inventory management of tools.

How to Calculate Total Cost of Tools Used given Individual Costs?

Total Cost of Tools Used given Individual Costs calculator uses Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost) to calculate the Total Cost of Tools Used, Total Cost of Tools Used given Individual Costs refers to the cumulative expense incurred for all tools required throughout the production process. This cost is a component of the overall manufacturing costs and directly impacts the average production cost per component. Total Cost of Tools Used is denoted by c symbol.

How to calculate Total Cost of Tools Used given Individual Costs using this online calculator? To use this online calculator for Total Cost of Tools Used given Individual Costs, enter Total Production Cost (C_p), Total Non Productive Cost (C_np), Total Machining and Operating Cost (C_m) & Total Tool Changing Cost (C_t) and hit the calculate button. Here is how the Total Cost of Tools Used given Individual Costs calculation can be explained with given input values -> 29815 = 30000-(10+100+75).

FAQ

What is Total Cost of Tools Used given Individual Costs?

Total Cost of Tools Used given Individual Costs refers to the cumulative expense incurred for all tools required throughout the production process. This cost is a component of the overall manufacturing costs and directly impacts the average production cost per component and is represented as c = C_p-(C_np+C_m+C_t) or Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost). Total Production Cost involves summing up various cost components associated with the machining 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, 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.

How to calculate Total Cost of Tools Used given Individual Costs?

Total Cost of Tools Used given Individual Costs refers to the cumulative expense incurred for all tools required throughout the production process. This cost is a component of the overall manufacturing costs and directly impacts the average production cost per component is calculated using Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost). To calculate Total Cost of Tools Used given Individual Costs, you need Total Production Cost (C_p), Total Non Productive Cost (C_np), Total Machining and Operating Cost (C_m) & Total Tool Changing Cost (C_t). With our tool, you need to enter the respective value for Total Production Cost, Total Non Productive Cost, Total Machining and Operating Cost & Total Tool Changing Cost and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

Home

FREE PDFs

🔍 Search