Cost of 1 Tool given Tool Life for Minimum Machining Cost 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%
✖Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.ⓘ Taylor's Tool Life Exponent [n]			+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%
✖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%

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

⎘ Copy

👎

Formula

✖

Cost of 1 Tool given Tool Life for Minimum Machining Cost

Formula

`"C"_{"t"} = (("T"*"n"/((1-"n")*"Q"))-"t"_{"c"})*"M"`

Example

`"22825.89"=(("75min"*"0.032362"/((1-"0.032362")*"0.5"))-"1.25min")*"101"`

Calculator

LaTeX

Reset

👍

Download Production Engineering Formula PDF

Cost of 1 Tool given Tool Life for Minimum Machining Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Cost of a Tool = ((Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*Time Proportion of Cutting Edge Engagement))-Time to Change One Tool)*Machining and Operating Rate
C_t = ((T*n/((1-n)*Q))-t_c)*M
This formula uses 6 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.
Taylor's Tool Life Exponent - Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.
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.
Machining and Operating Rate - Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.

STEP 1: Convert Input(s) to Base Unit

Tool Life: 75 Minute --> 4500 Second (Check conversion here)
Taylor's Tool Life Exponent: 0.032362 --> No Conversion Required
Time Proportion of Cutting Edge Engagement: 0.5 --> No Conversion Required
Time to Change One Tool: 1.25 Minute --> 75 Second (Check conversion here)
Machining and Operating Rate: 101 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_t = ((T*n/((1-n)*Q))-t_c)*M --> ((4500*0.032362/((1-0.032362)*0.5))-75)*101

Evaluating ... ...

C_t = 22825.8916557638

STEP 3: Convert Result to Output's Unit

22825.8916557638 --> No Conversion Required

FINAL ANSWER

22825.8916557638 ≈ 22825.89 <-- Cost of a Tool

(Calculation completed in 00.004 seconds)

You are here -

Home » Engineering » Production Engineering » Metal Machining » Metal-Machining Economics » Production Cost » Tool Cost » Cost of 1 Tool given Tool Life for Minimum Machining Cost

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!

< 14 Tool Cost Calculators

Tool Changing Time for 1 Tool given Machining Cost

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

Cost of 1 Tool given Machining Cost

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

Time Proportion of Cutting Edge Engagement given Machining Cost

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

Machining Time per component given Machining Cost

Go Machining Time = Machining and Operating Cost of Each Product/(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))

Tool Life of One Tool given Machining Cost

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

Machining Cost per component

Go Machining and Operating Cost of Each Product = Machining Time*(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))

Tool Changing Cost per Tool given Machining Cost

Go Cost of changing each Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool

Machining Cost given Tool Changing Cost per Tool

Go Machining and Operating Cost of Each Product = Machining Time*(Machining and Operating Rate+(Time Proportion of Cutting Edge Engagement*(Cost of changing each Tool+Cost of a Tool)/Tool Life))

Time Proportion of Cutting Edge Engagement given Tool Life for Minimum Machining Cost

Go Time Proportion of Cutting Edge Engagement = Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*(Time to Change One Tool+(Cost of a Tool/Machining and Operating Rate)))

Cost of 1 Tool given Tool Life for Minimum Machining Cost

Go Cost of a Tool = ((Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*Time Proportion of Cutting Edge Engagement))-Time to Change One Tool)*Machining and Operating Rate

Minimum Cost of Machining per component

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

Constant for Machining Operation of one product given Machining Condition

Go Constant For Machining Condition = Machining Time*Cutting Velocity

Cutting Velocity of one product given Constant for Machining Operation

Go Cutting Velocity = Constant For Machining Condition/Machining Time

Machining Time of one product given Constant for Machining Operation

Go Machining Time = Constant For Machining Condition/Cutting Velocity

Cost of 1 Tool given Tool Life for Minimum Machining Cost 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 Tool Life for Minimum Machining Cost?

Cost of 1 Tool given Tool Life for Minimum Machining Cost calculator uses Cost of a Tool = ((Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*Time Proportion of Cutting Edge Engagement))-Time to Change One Tool)*Machining and Operating Rate to calculate the Cost of a Tool, The Cost of 1 Tool given Tool Life for Minimum Machining Cost is a method to determine the maximum amount available to be spent on renewing the Machining Tool when the Minimum Cost of Machining per component is known for a Cutting Tool of given Tool Life. Cost of a Tool is denoted by C_t symbol.

How to calculate Cost of 1 Tool given Tool Life for Minimum Machining Cost using this online calculator? To use this online calculator for Cost of 1 Tool given Tool Life for Minimum Machining Cost, enter Tool Life (T), Taylor's Tool Life Exponent (n), Time Proportion of Cutting Edge Engagement (Q), Time to Change One Tool (t_c) & Machining and Operating Rate (M) and hit the calculate button. Here is how the Cost of 1 Tool given Tool Life for Minimum Machining Cost calculation can be explained with given input values -> 100.8917 = ((4500*0.032362/((1-0.032362)*0.5))-75)*101.

FAQ

What is Cost of 1 Tool given Tool Life for Minimum Machining Cost?

The Cost of 1 Tool given Tool Life for Minimum Machining Cost is a method to determine the maximum amount available to be spent on renewing the Machining Tool when the Minimum Cost of Machining per component is known for a Cutting Tool of given Tool Life and is represented as C_t = ((T*n/((1-n)*Q))-t_c)*M or Cost of a Tool = ((Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*Time Proportion of Cutting Edge Engagement))-Time to Change One Tool)*Machining and Operating Rate. Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations, Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear, 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 & Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.

How to calculate Cost of 1 Tool given Tool Life for Minimum Machining Cost?

The Cost of 1 Tool given Tool Life for Minimum Machining Cost is a method to determine the maximum amount available to be spent on renewing the Machining Tool when the Minimum Cost of Machining per component is known for a Cutting Tool of given Tool Life is calculated using Cost of a Tool = ((Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*Time Proportion of Cutting Edge Engagement))-Time to Change One Tool)*Machining and Operating Rate. To calculate Cost of 1 Tool given Tool Life for Minimum Machining Cost, you need Tool Life (T), Taylor's Tool Life Exponent (n), Time Proportion of Cutting Edge Engagement (Q), Time to Change One Tool (t_c) & Machining and Operating Rate (M). With our tool, you need to enter the respective value for Tool Life, Taylor's Tool Life Exponent, Time Proportion of Cutting Edge Engagement, Time to Change One Tool & Machining and Operating Rate 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, Taylor's Tool Life Exponent, Time Proportion of Cutting Edge Engagement, Time to Change One Tool & Machining and Operating Rate. We can use 1 other way(s) to calculate the same, which is/are as follows -

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

Home

FREE PDFs

🔍 Search