Machining and Operating Rate if cost of changing tool is also considered Solution

STEP 0: Pre-Calculation Summary
Formula Used
Machining and Operating Rate = ((Cost of a Tool+Cost of changing each Tool)/Time to Change One Tool)*((1-Taylor's Tool Life Exponent)/(2*Taylor's Tool Life Exponent-1))
M = ((Ct+CCT)/tc)*((1-n)/(2*n-1))
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 for minimum production cost.
Cost of a Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
Cost of changing each Tool - The cost of changing each Tool is the cost that arises due to the time taken by the operator to change one tool when he is paid by the hour.
Time to Change One Tool - (Measured in Second) - Time to Change One Tool is the measure of time it takes to change one tool during machining.
Taylor's Tool Life Exponent - Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.
STEP 1: Convert Input(s) to Base Unit
Cost of a Tool: 100 --> No Conversion Required
Cost of changing each Tool: 25 --> No Conversion Required
Time to Change One Tool: 1.5 Minute --> 90 Second (Check conversion here)
Taylor's Tool Life Exponent: 0.55 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
M = ((Ct+CCT)/tc)*((1-n)/(2*n-1)) --> ((100+25)/90)*((1-0.55)/(2*0.55-1))
Evaluating ... ...
M = 6.24999999999999
STEP 3: Convert Result to Output's Unit
6.24999999999999 --> No Conversion Required
FINAL ANSWER
6.24999999999999 6.25 <-- Machining and Operating Rate
(Calculation completed in 00.004 seconds)

Credits

Created by Kumar Siddhant
Indian Institute of Information Technology, Design and Manufacturing (IIITDM), Jabalpur
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Verified by Parul Keshav
National Institute of Technology (NIT), Srinagar
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10+ Tool Life for Minimum Production Cost Calculators

Machining and Operating Rate if cost of changing tool is also considered
Go Machining and Operating Rate = ((Cost of a Tool+Cost of changing each Tool)/Time to Change One Tool)*((1-Taylor's Tool Life Exponent)/(2*Taylor's Tool Life Exponent-1))
Tool Life for Minimum Production Cost given Tool Changing Cost
Go Tool Life = (1-Taylor's Tool Life Exponent)*(Cost of changing each Tool+Cost of a Tool)/(Taylor's Tool Life Exponent*Cost of a Tool)
Cost to change One Tool given Tool Life
Go Cost of changing each Tool = Cost of a Tool*(Tool Life*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))-Cost of a Tool
Tool Changing Time for each Tool given Tool Life and tool cost
Go Time to Change One Tool = (Tool Life*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))-(Cost of a Tool/Cost of a Tool)
Tool Life for Minimum Production Cost
Go Tool Life = (1-Taylor's Tool Life Exponent)*(Time to Change One Tool+(Cost of a Tool/Cost of a Tool))/Taylor's Tool Life Exponent
Machining and Operating Rate using Min Production Cost and Min Production time
Go Machining and Operating Rate = (Cost of a Tool/Time to Change One Tool)*((1-Taylor's Tool Life Exponent)/(2*Taylor's Tool Life Exponent-1))
Cost of One Tool for Minimum Production Cost given Tool Changing Cost
Go Cost of a Tool = Machining and Operating Rate*Time to Change One Tool*((2*Taylor's Tool Life Exponent-1)/(1-Taylor's Tool Life Exponent))
Cost of One Tool given Tool Life
Go Cost of a Tool = Machining and Operating Rate*Time to Change One Tool*((2*Taylor's Tool Life Exponent-1)/(1-Taylor's Tool Life Exponent))
Tool Life for Minimum Production Cost when High-Speed Steel Tool is used
Go Tool Life = 7*(Time to Change One Tool+(Cost of a Tool/Cost of a Tool))
Tool Life for Minimum Production Cost when Carbide Tool is used
Go Tool Life = 3*(Time to Change One Tool+(Cost of a Tool/Cost of a Tool))

Machining and Operating Rate if cost of changing tool is also considered Formula

Machining and Operating Rate = ((Cost of a Tool+Cost of changing each Tool)/Time to Change One Tool)*((1-Taylor's Tool Life Exponent)/(2*Taylor's Tool Life Exponent-1))
M = ((Ct+CCT)/tc)*((1-n)/(2*n-1))

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 if cost of changing tool is also considered?

Machining and Operating Rate if cost of changing tool is also considered calculator uses Machining and Operating Rate = ((Cost of a Tool+Cost of changing each Tool)/Time to Change One Tool)*((1-Taylor's Tool Life Exponent)/(2*Taylor's Tool Life Exponent-1)) to calculate the Machining and Operating Rate, The Machining and Operating Rate if cost of changing tool is also considered is a method to determine the maximum expense rate that can be afforded on machines and operators such that the Total Production Cost is Minimum in reference to the Tool Life. Machining and Operating Rate is denoted by M symbol.

How to calculate Machining and Operating Rate if cost of changing tool is also considered using this online calculator? To use this online calculator for Machining and Operating Rate if cost of changing tool is also considered, enter Cost of a Tool (Ct), Cost of changing each Tool (CCT), Time to Change One Tool (tc) & Taylor's Tool Life Exponent (n) and hit the calculate button. Here is how the Machining and Operating Rate if cost of changing tool is also considered calculation can be explained with given input values -> 6.25 = ((100+25)/90)*((1-0.55)/(2*0.55-1)).

FAQ

What is Machining and Operating Rate if cost of changing tool is also considered?
The Machining and Operating Rate if cost of changing tool is also considered is a method to determine the maximum expense rate that can be afforded on machines and operators such that the Total Production Cost is Minimum in reference to the Tool Life and is represented as M = ((Ct+CCT)/tc)*((1-n)/(2*n-1)) or Machining and Operating Rate = ((Cost of a Tool+Cost of changing each Tool)/Time to Change One Tool)*((1-Taylor's Tool Life Exponent)/(2*Taylor's Tool Life Exponent-1)). The Cost of a Tool is simply the cost of one tool being used for machining, The cost of changing each Tool is the cost that arises due to the time taken by the operator to change one tool when he is paid by the hour, Time to Change One Tool is the measure of time it takes to change one tool during machining & Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.
How to calculate Machining and Operating Rate if cost of changing tool is also considered?
The Machining and Operating Rate if cost of changing tool is also considered is a method to determine the maximum expense rate that can be afforded on machines and operators such that the Total Production Cost is Minimum in reference to the Tool Life is calculated using Machining and Operating Rate = ((Cost of a Tool+Cost of changing each Tool)/Time to Change One Tool)*((1-Taylor's Tool Life Exponent)/(2*Taylor's Tool Life Exponent-1)). To calculate Machining and Operating Rate if cost of changing tool is also considered, you need Cost of a Tool (Ct), Cost of changing each Tool (CCT), Time to Change One Tool (tc) & Taylor's Tool Life Exponent (n). With our tool, you need to enter the respective value for Cost of a Tool, Cost of changing each Tool, Time to Change One Tool & Taylor's Tool Life Exponent and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.
How many ways are there to calculate Machining and Operating Rate?
In this formula, Machining and Operating Rate uses Cost of a Tool, Cost of changing each Tool, Time to Change One Tool & Taylor's Tool Life Exponent. We can use 1 other way(s) to calculate the same, which is/are as follows -
  • Machining and Operating Rate = (Cost of a Tool/Time to Change One Tool)*((1-Taylor's Tool Life Exponent)/(2*Taylor's Tool Life Exponent-1))
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