Machining and Operating Rate given Average Production Cost of each Component Calculator

✖Production Cost of Each Component is the total amount that it takes to produce a single component from scratch.ⓘ Production Cost of Each Component [C_pr]			+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 A Tool [C_t]			+10% -10%
✖Batch Size is the count of similar kinds of products to be manufactured.ⓘ Batch Size [N_b]			+10% -10%
✖Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.ⓘ Setup Time [t_s]			+10% -10%
✖Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material.ⓘ Machining Time [t_m]			+10% -10%
✖Tool Changing Time is the average time required by the operator or automation system (such as automatic tool changer – ATC) to change the tool.ⓘ Tool Changing Time [TCT]			+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 given Average Production Cost of each Component [M]

⎘ Copy

👎

Formula

✖

Machining and Operating Rate given Average Production Cost of each Component

Formula

`"M" = ("C"_{"pr"}-("N"_{"t"}*"C"_{"t"}/"N"_{"b"}))/("t"_{"s"}+"t"_{"m"}+("N"_{"t"}*"TCT"/"N"_{"b"}))`

Example

`"100.2485"=("15000"-("4.16129"*"80"/"2"))/("0.9min"+"1.15min"+("4.16129"*"0.2min"/"2"))`

Calculator

LaTeX

Reset

👍

Download Production Engineering Formula PDF PDF Image

Machining and Operating Rate given Average Production Cost of each Component Solution

STEP 0: Pre-Calculation Summary

Formula Used

Machining and Operating Rate = (Production Cost of Each Component-(Number of Tools Used*Cost of A Tool/Batch Size))/(Setup Time+Machining Time+(Number of Tools Used*Tool Changing Time/Batch Size))
M = (C_pr-(N_t*C_t/N_b))/(t_s+t_m+(N_t*TCT/N_b))
This formula uses 8 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.
Production Cost of Each Component - Production Cost of Each Component is the total amount that it takes to produce a single component from scratch.
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.
Cost of A Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
Batch Size - Batch Size is the count of similar kinds of products to be manufactured.
Setup Time - (Measured in Second) - Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.
Machining Time - (Measured in Second) - Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material.
Tool Changing Time - (Measured in Second) - Tool Changing Time is the average time required by the operator or automation system (such as automatic tool changer – ATC) to change the tool.

STEP 1: Convert Input(s) to Base Unit

Production Cost of Each Component: 15000 --> No Conversion Required
Number of Tools Used: 4.16129 --> No Conversion Required
Cost of A Tool: 80 --> No Conversion Required
Batch Size: 2 --> No Conversion Required
Setup Time: 0.9 Minute --> 54 Second (Check conversion here)
Machining Time: 1.15 Minute --> 69 Second (Check conversion here)
Tool Changing Time: 0.2 Minute --> 12 Second (Check conversion here)

STEP 2: Evaluate Formula

Substituting Input Values in Formula

M = (C_pr-(N_t*C_t/N_b))/(t_s+t_m+(N_t*TCT/N_b)) --> (15000-(4.16129*80/2))/(54+69+(4.16129*12/2))

Evaluating ... ...

M = 100.248529848466

STEP 3: Convert Result to Output's Unit

100.248529848466 --> No Conversion Required

FINAL ANSWER

100.248529848466 ≈ 100.2485 <-- Machining and Operating Rate

(Calculation completed in 00.004 seconds)

You are here -

Home » Engineering » Production Engineering » Metal Machining » Metal-Machining Economics » Production Cost » Average Production Cost » Machining and Operating Rate given Average Production Cost of each Component

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!

< 18 Average Production Cost Calculators

Total Non-Productive Time using Average Production Cost

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

Machining and Operating Rate given Average Production Cost of each Component

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

Tool Changing Time for Each Tool given Average Production Cost

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

Total Machining Time using Average Production Cost

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

Tool Changing Cost of Each Product using Average Production Cost

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

Machining Time for Each Product given Average Production Cost

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

Setup Time for Each Product given Average Production Cost

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

Non-Productive Cost of Component given Average Production Cost

Go Non Another Productive Cost of Each Component = Production Cost of Each Component-(Cost of A Tool*Machining Time+(Number of Tools Used/Batch Size)*((Cost of A Tool*Tool Changing Time)+Cost of A Tool))

Total Non-Productive Cost given Average Production Cost

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

Total Cost of Tools used given Average Production Cost

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

Batch Size given Average Production Cost

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

Total Tool Changing Time using Average Production Cost

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

Number of Tools used given Average Production Cost

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

Average Production Cost of each component

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

Total Tool Changing Cost using Average Production Cost

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

Average Production Cost of Each Component using Individual Costs

Go Production Cost of Each Component = (Total Non-Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used)/Batch Size

Number of Tools used given Average Production Time

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

Average Production Cost of each Component given Total Production Cost

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

Machining and Operating Rate given Average Production Cost of each Component Formula

Significance of Machining and Operating Costs

The Machining and Operating Cost basically helps in determining the count of components that can be manufactured in the given resources. If this calculated cost is lower than the actual cost based on machining time, it means that the production planning has failed, as the total number of the components that are to be produced becomes lower than the starting batch size.

How to Calculate Machining and Operating Rate given Average Production Cost of each Component?

Machining and Operating Rate given Average Production Cost of each Component calculator uses Machining and Operating Rate = (Production Cost of Each Component-(Number of Tools Used*Cost of A Tool/Batch Size))/(Setup Time+Machining Time+(Number of Tools Used*Tool Changing Time/Batch Size)) to calculate the Machining and Operating Rate, The Machining and Operating Rate given Average Production Cost of each Component is a method to determine the maximum expense rate that can be afforded on machines and operators when based on the expense it took to manufacture a single component. Machining and Operating Rate is denoted by M symbol.

How to calculate Machining and Operating Rate given Average Production Cost of each Component using this online calculator? To use this online calculator for Machining and Operating Rate given Average Production Cost of each Component, enter Production Cost of Each Component (C_pr), Number of Tools Used (N_t), Cost of A Tool (C_t), Batch Size (N_b), Setup Time (t_s), Machining Time (t_m) & Tool Changing Time (TCT) and hit the calculate button. Here is how the Machining and Operating Rate given Average Production Cost of each Component calculation can be explained with given input values -> 100.2485 = (15000-(4.16129*80/2))/(54+69+(4.16129*12/2)).

FAQ

What is Machining and Operating Rate given Average Production Cost of each Component?

The Machining and Operating Rate given Average Production Cost of each Component is a method to determine the maximum expense rate that can be afforded on machines and operators when based on the expense it took to manufacture a single component and is represented as M = (C_pr-(N_t*C_t/N_b))/(t_s+t_m+(N_t*TCT/N_b)) or Machining and Operating Rate = (Production Cost of Each Component-(Number of Tools Used*Cost of A Tool/Batch Size))/(Setup Time+Machining Time+(Number of Tools Used*Tool Changing Time/Batch Size)). Production Cost of Each Component is the total amount that it takes to produce a single component from scratch, The Number of Tools Used is the total number of tools used for manufacturing a batch of products, The Cost of a Tool is simply the cost of one tool being used for machining, Batch Size is the count of similar kinds of products to be manufactured, Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component, Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material & Tool Changing Time is the average time required by the operator or automation system (such as automatic tool changer – ATC) to change the tool.

How to calculate Machining and Operating Rate given Average Production Cost of each Component?

The Machining and Operating Rate given Average Production Cost of each Component is a method to determine the maximum expense rate that can be afforded on machines and operators when based on the expense it took to manufacture a single component is calculated using Machining and Operating Rate = (Production Cost of Each Component-(Number of Tools Used*Cost of A Tool/Batch Size))/(Setup Time+Machining Time+(Number of Tools Used*Tool Changing Time/Batch Size)). To calculate Machining and Operating Rate given Average Production Cost of each Component, you need Production Cost of Each Component (C_pr), Number of Tools Used (N_t), Cost of A Tool (C_t), Batch Size (N_b), Setup Time (t_s), Machining Time (t_m) & Tool Changing Time (TCT). With our tool, you need to enter the respective value for Production Cost of Each Component, Number of Tools Used, Cost of A Tool, Batch Size, Setup Time, Machining Time & Tool Changing Time and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

Home

FREE PDFs

🔍 Search