Number of Tools used given Individual Costs Solution

STEP 0: Pre-Calculation Summary
Formula Used
Number of Tools Used = (Total Production Cost-(Total Non-Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost))/Cost of a Tool
Nt = (TPC-(TNPC+Cm+TCC))/Ct
This formula uses 6 Variables
Variables Used
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.
Total Production Cost - Total Production Cost is the total amount that it takes to produce a batch of components from scratch.
Total Non-Productive Cost - Total Non-Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.
Total Machining And Operating Cost - Total Machining And Operating Cost is the total amount of money required to machine a given batch of product.
Total Tool Changing Cost - Total Tool Changing Cost is the total cost that arises due to the time taken by the operator in changing the Cutting Tool when he is paid by the hour.
Cost of a Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
STEP 1: Convert Input(s) to Base Unit
Total Production Cost: 30000 --> No Conversion Required
Total Non-Productive Cost: 10 --> No Conversion Required
Total Machining And Operating Cost: 100 --> No Conversion Required
Total Tool Changing Cost: 540 --> No Conversion Required
Cost of a Tool: 80 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
Nt = (TPC-(TNPC+Cm+TCC))/Ct --> (30000-(10+100+540))/80
Evaluating ... ...
Nt = 366.875
STEP 3: Convert Result to Output's Unit
366.875 --> No Conversion Required
FINAL ANSWER
366.875 <-- Number of Tools Used
(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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13 Value of Production 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
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)
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))
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
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))
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)))
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)
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)
Setup Time for Each Product given Individual Costs
Go Setup Time = (Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size)
Machining and Operating Rate using Individual Cost
Go Cost of a Tool = (Total Production Cost-(Total Non-Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Batch Size*Machining Time)
Total Non-Productive Time using Total Production Cost
Go Non-Productive Time = (Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool)
Number of Tools used given Individual Costs
Go Number of Tools Used = (Total Production Cost-(Total Non-Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost))/Cost of a Tool
Batch Size given Total Production Cost
Go Batch Size = Total Production Cost/Production Cost of Each Component

Number of Tools used given Individual Costs Formula

Number of Tools Used = (Total Production Cost-(Total Non-Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost))/Cost of a Tool
Nt = (TPC-(TNPC+Cm+TCC))/Ct

Need to change the Tool

Due to Wear during the cutting operation, the sharpness of the Cutting edge of the tool is lost which leads to roughness and tolerances at the surface. To tackle this, the tool is usually sharpened rather than completely changed.

How to Calculate Number of Tools used given Individual Costs?

Number of Tools used given Individual Costs calculator uses Number of Tools Used = (Total Production Cost-(Total Non-Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost))/Cost of a Tool to calculate the Number of Tools Used, The Number of Tools used given Individual Costs is a method to determine the maximum number of Tools that can be used for producing a single component when the total amount available for different activities of production is known. Number of Tools Used is denoted by Nt symbol.

How to calculate Number of Tools used given Individual Costs using this online calculator? To use this online calculator for Number of Tools used given Individual Costs, enter Total Production Cost (TPC), Total Non-Productive Cost (TNPC), Total Machining And Operating Cost (Cm), Total Tool Changing Cost (TCC) & Cost of a Tool (Ct) and hit the calculate button. Here is how the Number of Tools used given Individual Costs calculation can be explained with given input values -> 366.875 = (30000-(10+100+540))/80.

FAQ

What is Number of Tools used given Individual Costs?
The Number of Tools used given Individual Costs is a method to determine the maximum number of Tools that can be used for producing a single component when the total amount available for different activities of production is known and is represented as Nt = (TPC-(TNPC+Cm+TCC))/Ct or Number of Tools Used = (Total Production Cost-(Total Non-Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost))/Cost of a Tool. Total Production Cost is the total amount that it takes to produce a batch of components from scratch, Total Non-Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components, Total Machining And Operating Cost is the total amount of money required to machine a given batch of product, Total Tool Changing Cost is the total cost that arises due to the time taken by the operator in changing the Cutting Tool when he is paid by the hour & The Cost of a Tool is simply the cost of one tool being used for machining.
How to calculate Number of Tools used given Individual Costs?
The Number of Tools used given Individual Costs is a method to determine the maximum number of Tools that can be used for producing a single component when the total amount available for different activities of production is known is calculated using Number of Tools Used = (Total Production Cost-(Total Non-Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost))/Cost of a Tool. To calculate Number of Tools used given Individual Costs, you need Total Production Cost (TPC), Total Non-Productive Cost (TNPC), Total Machining And Operating Cost (Cm), Total Tool Changing Cost (TCC) & Cost of a Tool (Ct). With our tool, you need to enter the respective value for Total Production Cost, Total Non-Productive Cost, Total Machining And Operating Cost, Total Tool Changing Cost & Cost of a Tool 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 Number of Tools Used?
In this formula, Number of Tools Used uses Total Production Cost, Total Non-Productive Cost, Total Machining And Operating Cost, Total Tool Changing Cost & Cost of a Tool. We can use 2 other way(s) to calculate the same, which is/are as follows -
  • 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)
  • 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)
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