How to Calculate Tool Changing Cost of Each Product using Average Production Cost?
Tool Changing Cost of Each Product using Average Production Cost calculator uses 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) to calculate the Cost of changing each Tool, Tool Changing Cost of Each Product using Average Production Cost is a method to determine the cost that arises due to the time taken by the operator in changing 1 Cutting Tool when he is paid by the hour, based on the expense on one component produced. Cost of changing each Tool is denoted by CCT symbol.
How to calculate Tool Changing Cost of Each Product using Average Production Cost using this online calculator? To use this online calculator for Tool Changing Cost of Each Product using Average Production Cost, enter Batch Size (Nb), Production Cost of Each Component (Cpr), Cost of a Tool (Ct), Setup Time (ts), Machining Time (tm) & Number of Tools Used (Nt) and hit the calculate button. Here is how the Tool Changing Cost of Each Product using Average Production Cost calculation can be explained with given input values -> 3360 = (2*15000-2*80*(54+69)-3*80)/(3).