Cost of Re-grindable Tool given Estimated Tool Costs Solution

STEP 0: Pre-Calculation Summary
Formula Used
Cost of a Tool = (Tool Cost-Cost of Grinding)*Average Number of Regrinds Possible
Ct = (TC-Cg)*Ng
This formula uses 4 Variables
Variables Used
Cost of a Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
Tool Cost - Tool Cost is the amount of money spend on the purchase, maintenance and changing of tools.
Cost of Grinding - Cost of Grinding is the amount spent on grinding of a given tool.
Average Number of Regrinds Possible - Average Number of Regrinds Possible is the number of times a Tool is supposed to be grindable to give a sharp edge.
STEP 1: Convert Input(s) to Base Unit
Tool Cost: 200 --> No Conversion Required
Cost of Grinding: 180 --> No Conversion Required
Average Number of Regrinds Possible: 15 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
Ct = (TC-Cg)*Ng --> (200-180)*15
Evaluating ... ...
Ct = 300
STEP 3: Convert Result to Output's Unit
300 --> No Conversion Required
FINAL ANSWER
300 <-- Cost of a Tool
(Calculation completed in 00.004 seconds)

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
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7 Cost Calculators

Cost of Holder given Tool Costs for Disposable-Insert Tool
Go Cost of the Holder = Cutting Edges used during Life of Holder*(Tool Cost-(Cost of Insert/Average Number of Cutting Edges used per Insert))
Cost of Insert given Tool Costs for Disposable-Insert Tool
Go Cost of Insert = Average Number of Cutting Edges used per Insert*(Tool Cost-(Cost of the Holder/Cutting Edges used during Life of Holder))
Estimated Tool Costs for Disposable-Insert Tool
Go Tool Cost = (Cost of Insert/Average Number of Cutting Edges used per Insert)+(Cost of the Holder/Cutting Edges used during Life of Holder)
Initial Cost of Machine given Depreciation Rate
Go Initial Cost of the Machine = Amortization Period*Number of Working Hours per Year*Depreciation Rate
Cost of Re-grindable Tool given Estimated Tool Costs
Go Cost of a Tool = (Tool Cost-Cost of Grinding)*Average Number of Regrinds Possible
Cost of Grinding given Estimated Tool Costs
Go Cost of Grinding = Tool Cost-(Cost of a Tool/Average Number of Regrinds Possible)
Estimated Tool Costs for Re-grindable Tool
Go Tool Cost = Cost of Grinding+(Cost of a Tool/Average Number of Regrinds Possible)

Cost of Re-grindable Tool given Estimated Tool Costs Formula

Cost of a Tool = (Tool Cost-Cost of Grinding)*Average Number of Regrinds Possible
Ct = (TC-Cg)*Ng

Tool Costs for Re-sharpening

The Tool Costs for Re-sharpening is generated on the processes that basically include changing or re-sharpening the tool. These do not result in any productivity or profit whatsoever. But as the time is consumed by the operator to perform these tasks, when paid by the hour, the operators cost plants this time too.

How to Calculate Cost of Re-grindable Tool given Estimated Tool Costs?

Cost of Re-grindable Tool given Estimated Tool Costs calculator uses Cost of a Tool = (Tool Cost-Cost of Grinding)*Average Number of Regrinds Possible to calculate the Cost of a Tool, The Cost of Re-grindable Tool given Estimated Tool Costs is a method to determine the maximum amount that can be spent to purchase a re-grindable tool when there is a limit on the amount spent on Tool Costs. Cost of a Tool is denoted by Ct symbol.

How to calculate Cost of Re-grindable Tool given Estimated Tool Costs using this online calculator? To use this online calculator for Cost of Re-grindable Tool given Estimated Tool Costs, enter Tool Cost (TC), Cost of Grinding (Cg) & Average Number of Regrinds Possible (Ng) and hit the calculate button. Here is how the Cost of Re-grindable Tool given Estimated Tool Costs calculation can be explained with given input values -> 300 = (200-180)*15.

FAQ

What is Cost of Re-grindable Tool given Estimated Tool Costs?
The Cost of Re-grindable Tool given Estimated Tool Costs is a method to determine the maximum amount that can be spent to purchase a re-grindable tool when there is a limit on the amount spent on Tool Costs and is represented as Ct = (TC-Cg)*Ng or Cost of a Tool = (Tool Cost-Cost of Grinding)*Average Number of Regrinds Possible. Tool Cost is the amount of money spend on the purchase, maintenance and changing of tools, Cost of Grinding is the amount spent on grinding of a given tool & Average Number of Regrinds Possible is the number of times a Tool is supposed to be grindable to give a sharp edge.
How to calculate Cost of Re-grindable Tool given Estimated Tool Costs?
The Cost of Re-grindable Tool given Estimated Tool Costs is a method to determine the maximum amount that can be spent to purchase a re-grindable tool when there is a limit on the amount spent on Tool Costs is calculated using Cost of a Tool = (Tool Cost-Cost of Grinding)*Average Number of Regrinds Possible. To calculate Cost of Re-grindable Tool given Estimated Tool Costs, you need Tool Cost (TC), Cost of Grinding (Cg) & Average Number of Regrinds Possible (Ng). With our tool, you need to enter the respective value for Tool Cost, Cost of Grinding & Average Number of Regrinds Possible 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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