Cost of Tool given Total Cost of Tools Calculator

✖Total Cost of Tools Used is the sum of the amount of all tools that have been used for production.ⓘ Total Cost of Tools Used [TTC]			+10% -10%
✖The Number of Tools Used is the total number of tools used for manufacturing a batch of products.ⓘ Number of Tools Used [N_t]			+10% -10%

✖The Cost of a Tool is simply the cost of one tool being used for machining.ⓘ Cost of Tool given Total Cost of Tools [C_t]

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Formula

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Cost of Tool given Total Cost of Tools

Formula

`"C"_{"t"} = "TTC"/"N"_{"t"}`

Example

`"333.3333"="1000"/"3"`

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Cost of Tool given Total Cost of Tools Solution

STEP 0: Pre-Calculation Summary

Formula Used

Cost of A Tool = Total Cost of Tools Used/Number of Tools Used
C_t = TTC/N_t
This formula uses 3 Variables

Variables Used

Cost of A Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
Total Cost of Tools Used - Total Cost of Tools Used is the sum of the amount of all tools that have been used for production.
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.

STEP 1: Convert Input(s) to Base Unit

Total Cost of Tools Used: 1000 --> No Conversion Required
Number of Tools Used: 3 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_t = TTC/N_t --> 1000/3

Evaluating ... ...

C_t = 333.333333333333

STEP 3: Convert Result to Output's Unit

333.333333333333 --> No Conversion Required

FINAL ANSWER

333.333333333333 ≈ 333.3333 <-- Cost of A Tool

(Calculation completed in 00.020 seconds)

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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!

< 21 Total Production Cost Calculators

Machining Time for Each Product using Total Production Cost

Go Machining Time = (Total Production Cost For Production Method-Cost of A Tool*Batch Size*Setup Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size)

Setup Time for Each Product given Total Production Cost

Go Setup Time = (Total Production Cost-Cost of A Tool*Batch Size*Machining Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size)

Tool Changing Time for Each Tool given Total Production Cost

Go Time to Change One Tool = (Total Production Cost-Batch Size*Cost of A Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of A Tool)/(Cost of A Tool*Number of Tools Used)

Non-Productive Cost of Each Component given Total Production Cost

Go Non Productive Cost of Each Component = Total Production Cost-(Batch Size*Cost of A Tool*Machining Time+Number of Tools Used*((Cost of A Tool*Time to Change One Tool)+Cost of A Tool))

Machining and Operating Rate given Total Production Cost

Go Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of A Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time))

Tool Changing Cost of Each Tool using Total Production Cost

Go Cost of changing each Tool = (Total Production Cost-Batch Size*Cost of A Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of A Tool)/(Number of Tools Used)

Total Production Cost

Go Total Production Cost = Batch Size*(Cost of A Tool*(Setup Time+Machining Time)+(Number of Tools Used)*((Cost of A Tool*Time to Change One Tool)+Cost of A Tool))

Number of Tools used given Total Production Cost

Go Number of Tools Used = (Total Production Cost-Batch Size*Cost of A Tool*(Setup Time+Machining Time))/(Cost of A Tool*Time to Change One Tool+Cost of A Tool)

Total Tool Changing Time given Total Production Cost

Go Total Tool Changing Time = (Total Production Cost-(Total Cost of Tools Used+Total Machining And Operating Cost+Total Non-Productive Cost))/(Number of Tools Used*Cost of A Tool)

Total Tool Changing Cost using Total Production Cost

Go Total Tool Changing Cost = Total Production Cost-Batch Size*Cost of A Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of A Tool

Total Non-Productive Time using Total Production Cost

Go Non Productive Time = (Total Production Cost for Setup Time-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of A Tool)

Total Machining Time using Total Production Cost

Go Total Machining Time = (Total Production Cost-(Total Non-Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of A Tool)

Total Non-Productive Cost given Total Production Cost

Go Total Non Productive Cost = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used)

Total Cost of Tools given Total Production Cost

Go Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost)

Total Tool-Changing Cost

Go Total Tool Changing Cost = Total Tool Changing Time*Number of Tools Used

Time for Changing one Tool given Total Tool Changing Time

Go Time to Change One Tool = Total Tool Changing Time/Number of Tools Used

Total Tool Changing Time

Go Total Tool Changing Time = Number of Tools Used*Time to Change One Tool

Total Production Cost for given Batch Size

Go Total Production Cost = Batch Size*Production Cost of Each Component

Batch Size given Total Production Cost

Go Batch Size = Total Production Cost/Production Cost of Each Component

Cost of Tool given Total Cost of Tools

Go Cost of A Tool = Total Cost of Tools Used/Number of Tools Used

Total Cost of Tools Used

Go Total Cost of Tools Used = Number of Tools Used*Cost of A Tool

Cost of Tool given Total Cost of Tools Formula

Cost of A Tool = Total Cost of Tools Used/Number of Tools Used
C_t = TTC/N_t

What is Batch Production ?

Batch production is a method of manufacturing where the products are made as specified groups or amounts, within a time frame. A batch can go through a series of steps in a large manufacturing process to make the final desired product.

How to Calculate Cost of Tool given Total Cost of Tools?

Cost of Tool given Total Cost of Tools calculator uses Cost of A Tool = Total Cost of Tools Used/Number of Tools Used to calculate the Cost of A Tool, The Cost of Tool given Total Cost of Tools is a method to determine the maximum price of each tool that can be afforded when the total resources available and total requirement for machining tools for a batch production is known. Cost of A Tool is denoted by C_t symbol.

How to calculate Cost of Tool given Total Cost of Tools using this online calculator? To use this online calculator for Cost of Tool given Total Cost of Tools, enter Total Cost of Tools Used (TTC) & Number of Tools Used (N_t) and hit the calculate button. Here is how the Cost of Tool given Total Cost of Tools calculation can be explained with given input values -> 333.3333 = 1000/3.

FAQ

What is Cost of Tool given Total Cost of Tools?

The Cost of Tool given Total Cost of Tools is a method to determine the maximum price of each tool that can be afforded when the total resources available and total requirement for machining tools for a batch production is known and is represented as C_t = TTC/N_t or Cost of A Tool = Total Cost of Tools Used/Number of Tools Used. Total Cost of Tools Used is the sum of the amount of all tools that have been used for production & The Number of Tools Used is the total number of tools used for manufacturing a batch of products.

How to calculate Cost of Tool given Total Cost of Tools?

The Cost of Tool given Total Cost of Tools is a method to determine the maximum price of each tool that can be afforded when the total resources available and total requirement for machining tools for a batch production is known is calculated using Cost of A Tool = Total Cost of Tools Used/Number of Tools Used. To calculate Cost of Tool given Total Cost of Tools, you need Total Cost of Tools Used (TTC) & Number of Tools Used (N_t). With our tool, you need to enter the respective value for Total Cost of Tools Used & Number 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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