Total Machining and Operating Costs given Individual Costs Calculator

✖Total Production Cost is the total amount that it takes to produce a batch of components from scratch.ⓘ Total Production Cost [TPC]			+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 [TNPC]			+10% -10%
✖Total Tool Changing Cost is the total cost that arises due to the time taken by the operator in changing the cutting Tool when one is paid by the hour.ⓘ Total Tool Changing Cost [TCC]			+10% -10%
✖Total Cost of Tools Used is the sum of the amount of all tools that have been used for production.ⓘ Total Cost of Tools Used [TTC]			+10% -10%

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

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Total Machining and Operating Costs given Individual Costs Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Machining And Operating Cost = Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used)
C_o = TPC-(TNPC+TCC+TTC)
This formula uses 5 Variables

Variables Used

Total Machining And Operating Cost - Total Machining And Operating Cost is the total amount of money required to machine a given batch of product.
Total Production Cost - Total Production Cost is the total amount that it takes to produce a batch of components from scratch.
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 Tool Changing Cost - Total Tool Changing Cost is the total cost that arises due to the time taken by the operator in changing the cutting Tool when one is paid by the hour.
Total Cost of Tools Used - Total Cost of Tools Used is the sum of the amount of all tools that have been used for production.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 30000 --> No Conversion Required
Total Non Productive Cost: 10 --> No Conversion Required
Total Tool Changing Cost: 540 --> No Conversion Required
Total Cost of Tools Used: 1000 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_o = TPC-(TNPC+TCC+TTC) --> 30000-(10+540+1000)

Evaluating ... ...

C_o = 28450

STEP 3: Convert Result to Output's Unit

28450 --> No Conversion Required

FINAL ANSWER

28450 <-- Total Machining And Operating Cost

(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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< Machining Cost Calculators

Total Machining and Operating Costs using Average Production Cost

LaTeX 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

LaTeX 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

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

Total Machining and Operating Cost

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

Total Machining and Operating Costs given Individual Costs Formula

LaTeX Go

Total Machining And Operating Cost = Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used)
C_o = TPC-(TNPC+TCC+TTC)

Significance of Machining and Operating Costs

The Machining and Operating Cost basically helps in determining the count of components that can be manufactured in the given resources. If this calculated cost is lower than the actual cost based on machining time, it means that the production planning has failed, as the total number of the components that are to be produced becomes lower than the starting batch size.

How to Calculate Total Machining and Operating Costs given Individual Costs?

Total Machining and Operating Costs given Individual Costs calculator uses Total Machining And Operating Cost = Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used) to calculate the Total Machining And Operating Cost, The Total Machining and Operating Costs given Individual Costs is a method to determine the capital that must be invested for machining and operating processes to be afforded for a whole batch when based on the expense it took for different activities of production. Total Machining And Operating Cost is denoted by C_o symbol.

How to calculate Total Machining and Operating Costs given Individual Costs using this online calculator? To use this online calculator for Total Machining and Operating Costs given Individual Costs, enter Total Production Cost (TPC), Total Non Productive Cost (TNPC), Total Tool Changing Cost (TCC) & Total Cost of Tools Used (TTC) and hit the calculate button. Here is how the Total Machining and Operating Costs given Individual Costs calculation can be explained with given input values -> 13920 = 30000-(10+540+1000).

FAQ

What is Total Machining and Operating Costs given Individual Costs?

The Total Machining and Operating Costs given Individual Costs is a method to determine the capital that must be invested for machining and operating processes to be afforded for a whole batch when based on the expense it took for different activities of production and is represented as C_o = TPC-(TNPC+TCC+TTC) or Total Machining And Operating Cost = Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used). Total Production Cost is the total amount that it takes to produce a batch of components from scratch, 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 Tool Changing Cost is the total cost that arises due to the time taken by the operator in changing the cutting Tool when one is paid by the hour & Total Cost of Tools Used is the sum of the amount of all tools that have been used for production.

How to calculate Total Machining and Operating Costs given Individual Costs?

The Total Machining and Operating Costs given Individual Costs is a method to determine the capital that must be invested for machining and operating processes to be afforded for a whole batch when based on the expense it took for different activities of production is calculated using Total Machining And Operating Cost = Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used). To calculate Total Machining and Operating Costs given Individual Costs, you need Total Production Cost (TPC), Total Non Productive Cost (TNPC), Total Tool Changing Cost (TCC) & Total Cost of Tools Used (TTC). With our tool, you need to enter the respective value for Total Production Cost, Total Non Productive Cost, Total Tool Changing Cost & Total Cost 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 Total Machining And Operating Cost?

In this formula, Total Machining And Operating Cost uses Total Production Cost, Total Non Productive Cost, Total Tool Changing Cost & Total Cost of Tools Used. We can use 2 other way(s) to calculate the same, which is/are as follows -

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

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