Machining and Operating Rate Calculator

✖Wage Rate is defined as the worker's/operator's rate of pay.ⓘ Wage Rate [W_o]			+10% -10%
✖Operator's Overhead Percentage is the percentage of his Wage Rate spent indirectly on him, regardless of any revenue generated.ⓘ Operator's Overhead Percentage [%_Operator]			+10% -10%
✖Depreciation Rate is the rate at which the machine is depreciated across the estimated productive life of the machine.ⓘ Depreciation Rate [M_t]			+10% -10%
✖Machine Overhead Percentage is the percentage of Capital spent on it, regardless of any work it performs.ⓘ Machine Overhead Percentage [%_Machine]			+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]

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Formula

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Machining and Operating Rate

Formula

`"M" = ("W"_{"o"}*(100+"%"_{"Operator"})/100)+("M"_{"t"}*(100+"%"_{"Machine"})/100)`

Example

`"84.175"=("70"*(100+"20")/100)+("0.1"*(100+"75")/100)`

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Machining and Operating Rate Solution

STEP 0: Pre-Calculation Summary

Formula Used

Machining and Operating Rate = (Wage Rate*(100+Operator's Overhead Percentage)/100)+(Depreciation Rate*(100+Machine Overhead Percentage)/100)
M = (W_o*(100+%_Operator)/100)+(M_t*(100+%_Machine)/100)
This formula uses 5 Variables

Variables Used

Machining and Operating Rate - Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Wage Rate - Wage Rate is defined as the worker's/operator's rate of pay.
Operator's Overhead Percentage - Operator's Overhead Percentage is the percentage of his Wage Rate spent indirectly on him, regardless of any revenue generated.
Depreciation Rate - Depreciation Rate is the rate at which the machine is depreciated across the estimated productive life of the machine.
Machine Overhead Percentage - Machine Overhead Percentage is the percentage of Capital spent on it, regardless of any work it performs.

STEP 1: Convert Input(s) to Base Unit

Wage Rate: 70 --> No Conversion Required
Operator's Overhead Percentage: 20 --> No Conversion Required
Depreciation Rate: 0.1 --> No Conversion Required
Machine Overhead Percentage: 75 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

M = (W_o*(100+%_Operator)/100)+(M_t*(100+%_Machine)/100) --> (70*(100+20)/100)+(0.1*(100+75)/100)

Evaluating ... ...

M = 84.175

STEP 3: Convert Result to Output's Unit

84.175 --> No Conversion Required

FINAL ANSWER

84.175 <-- Machining and Operating Rate

(Calculation completed in 00.004 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!

< 14 Estimation Cost Calculators

Operator's Overhead Percentage given Machining and Operating Rate

Go Operator's Overhead Percentage = ((Machining and Operating Rate-(Depreciation Rate*(100+Machine Overhead Percentage)/100))*100/Wage Rate)-100

Machine Overhead Percentage given Machining and Operating Rate

Go Machine Overhead Percentage = ((Machining and Operating Rate-(Wage Rate*(100+Operator's Overhead Percentage)/100))*100/Depreciation Rate)-100

Operator's Wage Rate given Machining and Operating Rate

Go Wage Rate = (Machining and Operating Rate-(Depreciation Rate*(100+Machine Overhead Percentage)/100))*100/(100+Operator's Overhead Percentage)

Machining and Operating Rate

Go Machining and Operating Rate = (Wage Rate*(100+Operator's Overhead Percentage)/100)+(Depreciation Rate*(100+Machine Overhead Percentage)/100)

Cutting Edges used during Life of Holder given Estimated Tool Costs

Go Cutting Edges used during Life of Holder = Cost of the Holder/(Tool Cost-(Cost of Insert/Average Number of Cutting Edges used per Insert))

Average Cutting Edges used per insert given Estimated Tool Costs

Go Average Number of Cutting Edges used per Insert = Cost of Insert/(Tool Cost-(Cost of the Holder/Cutting Edges used during Life of Holder))

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))

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))

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

Average Number of Regrinds Possible, given Estimated Tool Costs

Go Average Number of Regrinds Possible = Cost of a Tool/(Tool Cost-Cost of Grinding)

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)

Machining and Operating Rate Formula

Machining and Operating Rate = (Wage Rate*(100+Operator's Overhead Percentage)/100)+(Depreciation Rate*(100+Machine Overhead Percentage)/100)
M = (W_o*(100+%_Operator)/100)+(M_t*(100+%_Machine)/100)

Significance of Machining and Operating Rate

The Machining and Operating Rate basically helps in determining the count of components that can be manufactured in the given time for given resources. Optimizing this Rate helps in regulating the Total Machining Cost of the Production which carries the maximum weightage of the Total Production Cost.

How to Calculate Machining and Operating Rate?

Machining and Operating Rate calculator uses Machining and Operating Rate = (Wage Rate*(100+Operator's Overhead Percentage)/100)+(Depreciation Rate*(100+Machine Overhead Percentage)/100) to calculate the Machining and Operating Rate, The Machining and Operating Rate is defined as the rate of payment to be made when a machine is bought and/or operated on. Machining and Operating Rate is denoted by M symbol.

How to calculate Machining and Operating Rate using this online calculator? To use this online calculator for Machining and Operating Rate, enter Wage Rate (W_o), Operator's Overhead Percentage (%_Operator), Depreciation Rate (M_t) & Machine Overhead Percentage (%_Machine) and hit the calculate button. Here is how the Machining and Operating Rate calculation can be explained with given input values -> 84.175 = (70*(100+20)/100)+(0.1*(100+75)/100).

FAQ

What is Machining and Operating Rate?

The Machining and Operating Rate is defined as the rate of payment to be made when a machine is bought and/or operated on and is represented as M = (W_o*(100+%_Operator)/100)+(M_t*(100+%_Machine)/100) or Machining and Operating Rate = (Wage Rate*(100+Operator's Overhead Percentage)/100)+(Depreciation Rate*(100+Machine Overhead Percentage)/100). Wage Rate is defined as the worker's/operator's rate of pay, Operator's Overhead Percentage is the percentage of his Wage Rate spent indirectly on him, regardless of any revenue generated, Depreciation Rate is the rate at which the machine is depreciated across the estimated productive life of the machine & Machine Overhead Percentage is the percentage of Capital spent on it, regardless of any work it performs.

How to calculate Machining and Operating Rate?

The Machining and Operating Rate is defined as the rate of payment to be made when a machine is bought and/or operated on is calculated using Machining and Operating Rate = (Wage Rate*(100+Operator's Overhead Percentage)/100)+(Depreciation Rate*(100+Machine Overhead Percentage)/100). To calculate Machining and Operating Rate, you need Wage Rate (W_o), Operator's Overhead Percentage (%_Operator), Depreciation Rate (M_t) & Machine Overhead Percentage (%_Machine). With our tool, you need to enter the respective value for Wage Rate, Operator's Overhead Percentage, Depreciation Rate & Machine Overhead Percentage 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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