Cost of 1 Tool given Machining Cost for Maximum Power Calculator

✖Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.ⓘ Tool Life [T]			+10% -10%
✖Machining and Operating Cost of Each Product is the total amount of money required to machine a single product.ⓘ Machining and Operating Cost of Each Product [C_m1]			+10% -10%
✖Machining Time for Maximum Power is the time for processing when the workpiece is machined under maximum power conditions.ⓘ Machining Time for Maximum Power [tmax_p]			+10% -10%
✖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%
✖Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.ⓘ Time Proportion of Cutting Edge Engagement [Q]			+10% -10%
✖Time to Change One Tool is the measure of time it takes to change one tool during machining.ⓘ Time to Change One Tool [t_c]			+10% -10%

✖The Cost of a Tool is simply the cost of one tool being used for machining.ⓘ Cost of 1 Tool given Machining Cost for Maximum Power [C_t]

⎘ Copy

👎

Formula

✖

Cost of 1 Tool given Machining Cost for Maximum Power

Formula

`"C"_{"t"} = ("T"*(("C"_{"m1"}/"tmax"_{"p"})-"M")/"Q")-("M"*"t"_{"c"})`

Example

`"100.0001"=("75min"*(("0.963225"/"48.925s")-"0.0083")/"0.5")-("0.0083"*"5min")`

Calculator

LaTeX

Reset

👍

Download Production Engineering Formula PDF

Cost of 1 Tool given Machining Cost for Maximum Power Solution

STEP 0: Pre-Calculation Summary

Formula Used

Cost of a Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time for Maximum Power)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining and Operating Rate*Time to Change One Tool)
C_t = (T*((C_m1/tmax_p)-M)/Q)-(M*t_c)
This formula uses 7 Variables

Variables Used

Cost of a Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
Tool Life - (Measured in Second) - Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.
Machining and Operating Cost of Each Product - Machining and Operating Cost of Each Product is the total amount of money required to machine a single product.
Machining Time for Maximum Power - (Measured in Second) - Machining Time for Maximum Power is the time for processing when the workpiece is machined under maximum power conditions.
Machining and Operating Rate - Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Time Proportion of Cutting Edge Engagement - Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.
Time to Change One Tool - (Measured in Second) - Time to Change One Tool is the measure of time it takes to change one tool during machining.

STEP 1: Convert Input(s) to Base Unit

Tool Life: 75 Minute --> 4500 Second (Check conversion here)
Machining and Operating Cost of Each Product: 0.963225 --> No Conversion Required
Machining Time for Maximum Power: 48.925 Second --> 48.925 Second No Conversion Required
Machining and Operating Rate: 0.0083 --> No Conversion Required
Time Proportion of Cutting Edge Engagement: 0.5 --> No Conversion Required
Time to Change One Tool: 5 Minute --> 300 Second (Check conversion here)

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_t = (T*((C_m1/tmax_p)-M)/Q)-(M*t_c) --> (4500*((0.963225/48.925)-0.0083)/0.5)-(0.0083*300)

Evaluating ... ...

C_t = 100.000086867655

STEP 3: Convert Result to Output's Unit

100.000086867655 --> No Conversion Required

FINAL ANSWER

100.000086867655 ≈ 100.0001 <-- Cost of a Tool

(Calculation completed in 00.004 seconds)

You are here -

Home » Engineering » Production Engineering » Metal Machining » Metal-Machining Economics » Production Cost » Maximum Power cost » Cost of 1 Tool given Machining Cost for Maximum Power

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!

< 5 Maximum Power cost Calculators

Machining Cost per component for Maximum Power when Cutting Speed is limited by Taylor's Exponent

Go Machining and Operating Cost of Each Product = ((((Machining Time for Minimum Cost/Machining Time for Maximum Power)^(1/Taylor's Tool Life Exponent))*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))+1)*Machining Time for Maximum Power*Machining and Operating Rate

Cost amortized over years given Total rate for Machining and Operator

Go Amortized Years = (Factor to allow for Machining*Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f))/((Total Rate of Machining and Operator-(Factor to allow for Operator*Direct Labor Rate))*(2*Number of Shifts))

Cost of 1 Tool given Machining Cost for Maximum Power

Go Cost of a Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time for Maximum Power)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining and Operating Rate*Time to Change One Tool)

Machining Cost per component under Maximum Power Condition

Go Machining and Operating Cost of Each Product = Machining Time for Maximum Power*(Machining and Operating Rate+(Time Proportion of Cutting Edge Engagement*(Machining and Operating Rate*Time to Change One Tool+Cost of a Tool)/Tool Life))

Cost of Machine tool given initial weight of workpiece

Go Cost of a Tool = Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f)

Cost of 1 Tool given Machining Cost for Maximum Power Formula

Significance of Cost of Tools Used

The Cost of Tools Used helps us in determining the maximum number of times a tool can be renewed during the production of a given batch of products. This renewing might include buying or resharpening the tool. Thus if the number of Tools to be used gets bounded, the machining operation would have to be optimized in order to give sufficient tool life to minimize the Total Cost of Production.

How to Calculate Cost of 1 Tool given Machining Cost for Maximum Power?

Cost of 1 Tool given Machining Cost for Maximum Power calculator uses Cost of a Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time for Maximum Power)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining and Operating Rate*Time to Change One Tool) to calculate the Cost of a Tool, The Cost of 1 Tool given Machining Cost for Maximum Power is a way to determine the maximum amount available to be spent on renewing the Machining Tool when the Cost of Machining per component is known under maximum power condition. Cost of a Tool is denoted by C_t symbol.

How to calculate Cost of 1 Tool given Machining Cost for Maximum Power using this online calculator? To use this online calculator for Cost of 1 Tool given Machining Cost for Maximum Power, enter Tool Life (T), Machining and Operating Cost of Each Product (C_m1), Machining Time for Maximum Power (tmax_p), Machining and Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Time to Change One Tool (t_c) and hit the calculate button. Here is how the Cost of 1 Tool given Machining Cost for Maximum Power calculation can be explained with given input values -> 100.0001 = (4500*((0.963225/48.925)-0.0083)/0.5)-(0.0083*300).

FAQ

What is Cost of 1 Tool given Machining Cost for Maximum Power?

The Cost of 1 Tool given Machining Cost for Maximum Power is a way to determine the maximum amount available to be spent on renewing the Machining Tool when the Cost of Machining per component is known under maximum power condition and is represented as C_t = (T*((C_m1/tmax_p)-M)/Q)-(M*t_c) or Cost of a Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time for Maximum Power)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining and Operating Rate*Time to Change One Tool). Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations, Machining and Operating Cost of Each Product is the total amount of money required to machine a single product, Machining Time for Maximum Power is the time for processing when the workpiece is machined under maximum power conditions, Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads, Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece & Time to Change One Tool is the measure of time it takes to change one tool during machining.

How to calculate Cost of 1 Tool given Machining Cost for Maximum Power?

The Cost of 1 Tool given Machining Cost for Maximum Power is a way to determine the maximum amount available to be spent on renewing the Machining Tool when the Cost of Machining per component is known under maximum power condition is calculated using Cost of a Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time for Maximum Power)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining and Operating Rate*Time to Change One Tool). To calculate Cost of 1 Tool given Machining Cost for Maximum Power, you need Tool Life (T), Machining and Operating Cost of Each Product (C_m1), Machining Time for Maximum Power (tmax_p), Machining and Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Time to Change One Tool (t_c). With our tool, you need to enter the respective value for Tool Life, Machining and Operating Cost of Each Product, Machining Time for Maximum Power, Machining and Operating Rate, Time Proportion of Cutting Edge Engagement & Time to Change One Tool 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 Cost of a Tool?

In this formula, Cost of a Tool uses Tool Life, Machining and Operating Cost of Each Product, Machining Time for Maximum Power, Machining and Operating Rate, Time Proportion of Cutting Edge Engagement & Time to Change One Tool. We can use 1 other way(s) to calculate the same, which is/are as follows -

Cost of a Tool = Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f)

Home

FREE PDFs

🔍 Search