Total Minimum Cost Calculator

✖Minimum Cost indicates the price associated with the making of the product.ⓘ Minimum Cost [C_min]			+10% -10%
✖Tool Cost is the amount of money spend on the purchase, maintenance and changing of tools.ⓘ Tool Cost [TC]			+10% -10%
✖Machine Cost is the amount of money spent on the purchase and maintenance of machinery.ⓘ Machine Cost [MC]			+10% -10%
✖Tool Changing Time is the average time required by the operator or automation system (such as automatic tool changer – ATC) to change the tool.ⓘ Tool Changing Time [t_charge]			+10% -10%
✖Number of Rotation refers to the number of times the machine rotated about a fixed point.ⓘ Number of Rotation [NOR]			+10% -10%

✖Total Minimum Cost is the minimum amount of money required to execute an entire system of machinery.ⓘ Total Minimum Cost [TMC]

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Total Minimum Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Minimum Cost = (Minimum Cost/((Tool Cost/Machine Cost+Tool Changing Time)*(1/Number of Rotation-1))^Number of Rotation)
TMC = (C_min/((TC/MC+t_charge)*(1/NOR-1))^NOR)
This formula uses 6 Variables

Variables Used

Total Minimum Cost - Total Minimum Cost is the minimum amount of money required to execute an entire system of machinery.
Minimum Cost - Minimum Cost indicates the price associated with the making of the product.
Tool Cost - Tool Cost is the amount of money spend on the purchase, maintenance and changing of tools.
Machine Cost - Machine Cost is the amount of money spent on the purchase and maintenance of machinery.
Tool Changing Time - (Measured in Second) - Tool Changing Time is the average time required by the operator or automation system (such as automatic tool changer – ATC) to change the tool.
Number of Rotation - Number of Rotation refers to the number of times the machine rotated about a fixed point.

STEP 1: Convert Input(s) to Base Unit

Minimum Cost: 1223 --> No Conversion Required
Tool Cost: 200 --> No Conversion Required
Machine Cost: 10000 --> No Conversion Required
Tool Changing Time: 1.7 Second --> 1.7 Second No Conversion Required
Number of Rotation: 3 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

TMC = (C_min/((TC/MC+t_charge)*(1/NOR-1))^NOR) --> (1223/((200/10000+1.7)*(1/3-1))^3)

Evaluating ... ...

TMC = -811.175627617694

STEP 3: Convert Result to Output's Unit

-811.175627617694 --> No Conversion Required

FINAL ANSWER

-811.175627617694 ≈ -811.175628 <-- Total Minimum Cost

(Calculation completed in 00.004 seconds)

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Created by Anirudh Singh

National Institute of Technology (NIT), Jamshedpur

Anirudh Singh has created this Calculator and 300+ more calculators!

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Total Minimum Cost Formula

LaTeX Go

Total Minimum Cost = (Minimum Cost/((Tool Cost/Machine Cost+Tool Changing Time)*(1/Number of Rotation-1))^Number of Rotation)
TMC = (C_min/((TC/MC+t_charge)*(1/NOR-1))^NOR)

What is Total Minimum Cost?

Total Minimum Cost is the minimum amount of money required to execute entire machinery system.

How to Calculate Total Minimum Cost?

Total Minimum Cost calculator uses Total Minimum Cost = (Minimum Cost/((Tool Cost/Machine Cost+Tool Changing Time)*(1/Number of Rotation-1))^Number of Rotation) to calculate the Total Minimum Cost, Total Minimum Cost is the minimum amount of money required to execute entire machinery system. Total Minimum Cost is denoted by TMC symbol.

How to calculate Total Minimum Cost using this online calculator? To use this online calculator for Total Minimum Cost, enter Minimum Cost (C_min), Tool Cost (TC), Machine Cost (MC), Tool Changing Time (t_charge) & Number of Rotation (NOR) and hit the calculate button. Here is how the Total Minimum Cost calculation can be explained with given input values -> -811.175628 = (1223/((200/10000+1.7)*(1/3-1))^3).

FAQ

What is Total Minimum Cost?

Total Minimum Cost is the minimum amount of money required to execute entire machinery system and is represented as TMC = (C_min/((TC/MC+t_charge)*(1/NOR-1))^NOR) or Total Minimum Cost = (Minimum Cost/((Tool Cost/Machine Cost+Tool Changing Time)*(1/Number of Rotation-1))^Number of Rotation). Minimum Cost indicates the price associated with the making of the product, Tool Cost is the amount of money spend on the purchase, maintenance and changing of tools, Machine Cost is the amount of money spent on the purchase and maintenance of machinery, Tool Changing Time is the average time required by the operator or automation system (such as automatic tool changer – ATC) to change the tool & Number of Rotation refers to the number of times the machine rotated about a fixed point.

How to calculate Total Minimum Cost?

Total Minimum Cost is the minimum amount of money required to execute entire machinery system is calculated using Total Minimum Cost = (Minimum Cost/((Tool Cost/Machine Cost+Tool Changing Time)*(1/Number of Rotation-1))^Number of Rotation). To calculate Total Minimum Cost, you need Minimum Cost (C_min), Tool Cost (TC), Machine Cost (MC), Tool Changing Time (t_charge) & Number of Rotation (NOR). With our tool, you need to enter the respective value for Minimum Cost, Tool Cost, Machine Cost, Tool Changing Time & Number of Rotation 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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