Cost of Grinding given Estimated Tool Costs Solution

STEP 0: Pre-Calculation Summary
Formula Used
Cost of Grinding = Tool Cost-(Cost of a Tool/Average Number of Regrinds Possible)
Cg = TC-(Ct/Ng)
This formula uses 4 Variables
Variables Used
Cost of Grinding - Cost of Grinding is the amount spent on grinding of a given tool.
Tool Cost - Tool Cost is the amount of money spend on the purchase, maintenance and changing of tools.
Cost of a Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
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 a Tool: 80 --> No Conversion Required
Average Number of Regrinds Possible: 15 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
Cg = TC-(Ct/Ng) --> 200-(80/15)
Evaluating ... ...
Cg = 194.666666666667
STEP 3: Convert Result to Output's Unit
194.666666666667 --> No Conversion Required
FINAL ANSWER
194.666666666667 194.6667 <-- Cost of Grinding
(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 Grinding given Estimated Tool Costs Formula

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

Significance of Cost of Grinding

The Cost of Grinding 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.

How to Calculate Cost of Grinding given Estimated Tool Costs?

Cost of Grinding given Estimated Tool Costs calculator uses Cost of Grinding = Tool Cost-(Cost of a Tool/Average Number of Regrinds Possible) to calculate the Cost of Grinding, The Cost of Grinding given Estimated Tool Costs is a method to determine the maximum amount that can be spent on regrinding a tool. Cost of Grinding is denoted by Cg symbol.

How to calculate Cost of Grinding given Estimated Tool Costs using this online calculator? To use this online calculator for Cost of Grinding given Estimated Tool Costs, enter Tool Cost (TC), Cost of a Tool (Ct) & Average Number of Regrinds Possible (Ng) and hit the calculate button. Here is how the Cost of Grinding given Estimated Tool Costs calculation can be explained with given input values -> 194.6667 = 200-(80/15).

FAQ

What is Cost of Grinding given Estimated Tool Costs?
The Cost of Grinding given Estimated Tool Costs is a method to determine the maximum amount that can be spent on regrinding a tool and is represented as Cg = TC-(Ct/Ng) or Cost of Grinding = Tool Cost-(Cost of a Tool/Average Number of Regrinds Possible). Tool Cost is the amount of money spend on the purchase, maintenance and changing of tools, The Cost of a Tool is simply the cost of one tool being used for machining & 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 Grinding given Estimated Tool Costs?
The Cost of Grinding given Estimated Tool Costs is a method to determine the maximum amount that can be spent on regrinding a tool is calculated using Cost of Grinding = Tool Cost-(Cost of a Tool/Average Number of Regrinds Possible). To calculate Cost of Grinding given Estimated Tool Costs, you need Tool Cost (TC), Cost of a Tool (Ct) & Average Number of Regrinds Possible (Ng). With our tool, you need to enter the respective value for Tool Cost, Cost of a Tool & 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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