Total Production Cost given Individual Costs Calculator

✖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 [c]			+10% -10%

✖Total Production Cost involves summing up various cost components associated with the machining process.ⓘ Total Production Cost given Individual Costs [C_p]

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Total Production Cost given Individual Costs Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Production Cost = Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used
C_p = C_np+C_m+C_t+c
This formula uses 5 Variables

Variables Used

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.
Total Cost of Tools Used - Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.

STEP 1: Convert Input(s) to Base Unit

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
Total Cost of Tools Used: 29815 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_p = C_np+C_m+C_t+c --> 10+100+75+29815

Evaluating ... ...

C_p = 30000

STEP 3: Convert Result to Output's Unit

30000 --> No Conversion Required

FINAL ANSWER

30000 <-- Total Production 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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< 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 Production Cost given Individual Costs Formula

LaTeX Go

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

Components of Total Production Cost

1) Raw Material Costs: This includes the cost of the metal material used in machining, such as steel, aluminum, or titanium.
2) Labor Costs: The expenses associated with the workforce involved in machining, including wages, benefits, and training costs.
3) Overhead Expenses: These are indirect costs necessary for production but not directly tied to specific units of output. They may include rent, utilities, insurance, administrative salaries, etc.
4) Equipment Costs: The depreciation and maintenance costs associated with machining equipment, such as CNC machines, lathes, mills, and tooling.
5) Energy Consumption: Expenses related to electricity, gas, or other energy sources required for operating the machinery.
6) Quality Control Costs: Expenses associated with ensuring the quality of the machined parts, including inspection, testing, and rework costs.

How to Calculate Total Production Cost given Individual Costs?

Total Production Cost given Individual Costs calculator uses Total Production Cost = Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used to calculate the Total Production Cost, Total Production Cost given Individual Costs refers to the aggregate expenses incurred throughout the manufacturing process of metal components. It encompasses various elements such as raw material costs, labor costs, overhead expenses, equipment depreciation, maintenance costs, energy consumption, and other operational expenses. Total Production Cost is denoted by C_p symbol.

How to calculate Total Production Cost given Individual Costs using this online calculator? To use this online calculator for Total Production Cost given Individual Costs, enter Total Non Productive Cost (C_np), Total Machining and Operating Cost (C_m), Total Tool Changing Cost (C_t) & Total Cost of Tools Used (c) and hit the calculate button. Here is how the Total Production Cost given Individual Costs calculation can be explained with given input values -> 1185 = 10+100+75+29815.

FAQ

What is Total Production Cost given Individual Costs?

Total Production Cost given Individual Costs refers to the aggregate expenses incurred throughout the manufacturing process of metal components. It encompasses various elements such as raw material costs, labor costs, overhead expenses, equipment depreciation, maintenance costs, energy consumption, and other operational expenses and is represented as C_p = C_np+C_m+C_t+c or Total Production Cost = Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used. 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 & Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.

How to calculate Total Production Cost given Individual Costs?

Total Production Cost given Individual Costs refers to the aggregate expenses incurred throughout the manufacturing process of metal components. It encompasses various elements such as raw material costs, labor costs, overhead expenses, equipment depreciation, maintenance costs, energy consumption, and other operational expenses is calculated using Total Production Cost = Total Non Productive Cost+Total Machining and Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used. To calculate Total Production Cost given Individual Costs, you need Total Non Productive Cost (C_np), Total Machining and Operating Cost (C_m), Total Tool Changing Cost (C_t) & Total Cost of Tools Used (c). With our tool, you need to enter the respective value for Total Non Productive Cost, Total Machining and Operating 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.

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