Total Machining and Operating Cost Calculator

✖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%
✖Total Production Time is the net time taken to produce a complete match of products, including overheads.ⓘ Total Production Time [TPT]			+10% -10%

✖Rate of Total Machining And Operating Cost is the rate of total amount of money required to machine a given batch of product.ⓘ Total Machining and Operating Cost [C_r]

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Formula

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Total Machining and Operating Cost

Formula

C r = M \cdot TPT

Example

100.0002 = 0.166667 \cdot 10.000 min

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Total Machining and Operating Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Rate of Total Machining And Operating Cost = Machining And Operating Rate*Total Production Time
C_r = M*TPT
This formula uses 3 Variables

Variables Used

Rate of Total Machining And Operating Cost - Rate of Total Machining And Operating Cost is the rate of total amount of money required to machine a given batch of product.
Machining And Operating Rate - Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Total Production Time - (Measured in Second) - Total Production Time is the net time taken to produce a complete match of products, including overheads.

STEP 1: Convert Input(s) to Base Unit

Machining And Operating Rate: 0.166667 --> No Conversion Required
Total Production Time: 10 Minute --> 600 Second (Check conversion here)

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_r = M*TPT --> 0.166667*600

Evaluating ... ...

C_r = 100.0002

STEP 3: Convert Result to Output's Unit

100.0002 --> No Conversion Required

FINAL ANSWER

100.0002 <-- Rate of Total Machining And Operating Cost

(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!

< Machining Cost Calculators

Total Machining and Operating Costs using Average Production Cost

Go Total Machining And Operating Cost = (Production Cost of Each Component-(Average Cost of A Tool*Non Productive Time)-(Number of Tools Used/Batch Size*(Average Cost of A Tool*Time to Change One Tool+Average Cost of A Tool)))*Batch Size

Total Machining and Operating Costs given Total Production Cost

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

Machining and Operating Rate given Total Machining and Operating Cost

Go Machining And Operating Rate = Rate of Total Machining And Operating Cost/Total Production Time

Total Machining and Operating Cost

Go Rate of Total Machining And Operating Cost = Machining And Operating Rate*Total Production Time

Total Machining and Operating Cost Formula

Rate of Total Machining And Operating Cost = Machining And Operating Rate*Total Production Time
C_r = M*TPT

Why do we need a Cost Estimation Method ?

We need to Estimate our machining cost because
1. To identify if a product is feasible or not, and modify it in an early design stage.
2. To define the product price.
3. To verily offers obtained from different suppliers
4. To identify the most economical process to manufacture the product.
5. To identify expenses and help in the minimization
6. To take strategical decisions: eliminate a product, subcontracting, discounts.

How to Calculate Total Machining and Operating Cost?

Total Machining and Operating Cost calculator uses Rate of Total Machining And Operating Cost = Machining And Operating Rate*Total Production Time to calculate the Rate of Total Machining And Operating Cost, The Total Machining and Operating Cost is defined as the total amount of money required to machine a given batch of products. Rate of Total Machining And Operating Cost is denoted by C_r symbol.

How to calculate Total Machining and Operating Cost using this online calculator? To use this online calculator for Total Machining and Operating Cost, enter Machining And Operating Rate (M) & Total Production Time (TPT) and hit the calculate button. Here is how the Total Machining and Operating Cost calculation can be explained with given input values -> 60000 = 0.166667*600.

FAQ

What is Total Machining and Operating Cost?

The Total Machining and Operating Cost is defined as the total amount of money required to machine a given batch of products and is represented as C_r = M*TPT or Rate of Total Machining And Operating Cost = Machining And Operating Rate*Total Production Time. Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads & Total Production Time is the net time taken to produce a complete match of products, including overheads.

How to calculate Total Machining and Operating Cost?

The Total Machining and Operating Cost is defined as the total amount of money required to machine a given batch of products is calculated using Rate of Total Machining And Operating Cost = Machining And Operating Rate*Total Production Time. To calculate Total Machining and Operating Cost, you need Machining And Operating Rate (M) & Total Production Time (TPT). With our tool, you need to enter the respective value for Machining And Operating Rate & Total Production Time 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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