Tool Changing Cost per Tool given Machining Cost Calculator

✖Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.ⓘ Tool Life [T]			+10% -10%
✖Machining and Operating Cost of Each Product is the total amount of money required to machine a single product.ⓘ Machining and Operating Cost of Each Product [C_m1]			+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%
✖Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.ⓘ Machining and Operating Rate [M]			+10% -10%
✖Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.ⓘ Time Proportion of Cutting Edge Engagement [Q]			+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%

✖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.ⓘ Tool Changing Cost per Tool given Machining Cost [C_CT]

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Formula

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Tool Changing Cost per Tool given Machining Cost

Formula

`"C"_{"CT"} = ("T"*(("C"_{"m1"}/"t"_{"m"})-"M")/"Q")-"C"_{"t"}`

Example

`"21000"=("75min"*(("4650.5"/"0.75min")-"101")/"0.5")-"100"`

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Tool Changing Cost per Tool given Machining Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Cost of changing each Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool
C_CT = (T*((C_m1/t_m)-M)/Q)-C_t
This formula uses 7 Variables

Variables Used

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.
Tool Life - (Measured in Second) - Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.
Machining and Operating Cost of Each Product - Machining and Operating Cost of Each Product is the total amount of money required to machine a single product.
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.
Machining and Operating Rate - Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Time Proportion of Cutting Edge Engagement - Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.
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

Tool Life: 75 Minute --> 4500 Second (Check conversion here)
Machining and Operating Cost of Each Product: 4650.5 --> No Conversion Required
Machining Time: 0.75 Minute --> 45 Second (Check conversion here)
Machining and Operating Rate: 101 --> No Conversion Required
Time Proportion of Cutting Edge Engagement: 0.5 --> No Conversion Required
Cost of a Tool: 100 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_CT = (T*((C_m1/t_m)-M)/Q)-C_t --> (4500*((4650.5/45)-101)/0.5)-100

Evaluating ... ...

C_CT = 21000

STEP 3: Convert Result to Output's Unit

21000 --> No Conversion Required

FINAL ANSWER

21000 <-- Cost of changing each Tool

(Calculation completed in 00.020 seconds)

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Home » Engineering » Production Engineering » Metal Machining » Metal-Machining Economics » Production Cost » Tool Cost » Tool Changing Cost per Tool given Machining Cost

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 Tool Cost Calculators

Tool Changing Time for 1 Tool given Machining Cost

Go Time to Change One Tool = ((Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool)/Machining and Operating Rate

Cost of 1 Tool given Machining Cost

Go Cost of a Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining and Operating Rate*Time to Change One Tool)

Time Proportion of Cutting Edge Engagement given Machining Cost

Go Time Proportion of Cutting Edge Engagement = Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/(Machining and Operating Rate*Time to Change One Tool+Cost of a Tool)

Machining Time per component given Machining Cost

Go Machining Time = Machining and Operating Cost of Each Product/(Machining and Operating Rate+(Time Proportion of Cutting Edge Engagement*(Machining and Operating Rate*Time to Change One Tool+Cost of a Tool)/Tool Life))

Tool Life of One Tool given Machining Cost

Go Tool Life = Time Proportion of Cutting Edge Engagement*(Machining and Operating Rate*Time to Change One Tool+Cost of a Tool)/((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)

Machining Cost per component

Go Machining and Operating Cost of Each Product = Machining Time*(Machining and Operating Rate+(Time Proportion of Cutting Edge Engagement*(Machining and Operating Rate*Time to Change One Tool+Cost of a Tool)/Tool Life))

Tool Changing Cost per Tool given Machining Cost

Go Cost of changing each Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool

Machining Cost given Tool Changing Cost per Tool

Go Machining and Operating Cost of Each Product = Machining Time*(Machining and Operating Rate+(Time Proportion of Cutting Edge Engagement*(Cost of changing each Tool+Cost of a Tool)/Tool Life))

Time Proportion of Cutting Edge Engagement given Tool Life for Minimum Machining Cost

Go Time Proportion of Cutting Edge Engagement = Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*(Time to Change One Tool+(Cost of a Tool/Machining and Operating Rate)))

Cost of 1 Tool given Tool Life for Minimum Machining Cost

Go Cost of a Tool = ((Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*Time Proportion of Cutting Edge Engagement))-Time to Change One Tool)*Machining and Operating Rate

Minimum Cost of Machining per component

Go Machining and Operating Cost of Each Product = Machining and Operating Rate*Machining Time for Minimum Cost/(1-Taylor's Tool Life Exponent)

Constant for Machining Operation of one product given Machining Condition

Go Constant For Machining Condition = Machining Time*Cutting Velocity

Cutting Velocity of one product given Constant for Machining Operation

Go Cutting Velocity = Constant For Machining Condition/Machining Time

Machining Time of one product given Constant for Machining Operation

Go Machining Time = Constant For Machining Condition/Cutting Velocity

Tool Changing Cost per Tool given Machining Cost Formula

How is Tool-Changing Cost generated?

The tool-changing cost is generated on the processes that basically include changing or re-sharpening the tool. These do not result in any productivity or profit whatsoever. But as the time is consumed by the operator to perform these tasks, when paid by the hour, the operators cost plants this time too.

How to Calculate Tool Changing Cost per Tool given Machining Cost?

Tool Changing Cost per Tool given Machining Cost calculator uses Cost of changing each Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool to calculate the Cost of changing each Tool, The Tool Changing Cost per Tool given Machining 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 to machine 1 component. Cost of changing each Tool is denoted by C_CT symbol.

How to calculate Tool Changing Cost per Tool given Machining Cost using this online calculator? To use this online calculator for Tool Changing Cost per Tool given Machining Cost, enter Tool Life (T), Machining and Operating Cost of Each Product (C_m1), Machining Time (t_m), Machining and Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Cost of a Tool (C_t) and hit the calculate button. Here is how the Tool Changing Cost per Tool given Machining Cost calculation can be explained with given input values -> 21000 = (4500*((4650.5/45)-101)/0.5)-100.

FAQ

What is Tool Changing Cost per Tool given Machining Cost?

The Tool Changing Cost per Tool given Machining 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 to machine 1 component and is represented as C_CT = (T*((C_m1/t_m)-M)/Q)-C_t or Cost of changing each Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool. Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations, Machining and Operating Cost of Each Product is the total amount of money required to machine a single product, 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 and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads, Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece & The Cost of a Tool is simply the cost of one tool being used for machining.

How to calculate Tool Changing Cost per Tool given Machining Cost?

The Tool Changing Cost per Tool given Machining 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 to machine 1 component is calculated using Cost of changing each Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool. To calculate Tool Changing Cost per Tool given Machining Cost, you need Tool Life (T), Machining and Operating Cost of Each Product (C_m1), Machining Time (t_m), Machining and Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Cost of a Tool (C_t). With our tool, you need to enter the respective value for Tool Life, Machining and Operating Cost of Each Product, Machining Time, Machining and Operating Rate, Time Proportion of Cutting Edge Engagement & 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.

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