Total Cost of Tools Used Calculator

✖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%

✖Total Cost of Tools Used is the sum of the amount of all tools that have been used for production.ⓘ Total Cost of Tools Used [TTC]

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Formula

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Total Cost of Tools Used

Formula

`"TTC" = "N"_{"t"}*"C"_{"t"}`

Example

`"240"="3"*"80"`

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Total Cost of Tools Used Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Cost of Tools Used = Number of Tools Used*Cost of A Tool
TTC = N_t*C_t
This formula uses 3 Variables

Variables Used

Total Cost of Tools Used - Total Cost of Tools Used is the sum of the amount of all tools that have been used for production.
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.

STEP 1: Convert Input(s) to Base Unit

Number of Tools Used: 3 --> No Conversion Required
Cost of A Tool: 80 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

TTC = N_t*C_t --> 3*80

Evaluating ... ...

TTC = 240

STEP 3: Convert Result to Output's Unit

240 --> No Conversion Required

FINAL ANSWER

240 <-- Total Cost of Tools Used

(Calculation completed in 00.004 seconds)

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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!

< 21 Total Production Cost Calculators

Machining Time for Each Product using Total Production Cost

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

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)

Tool Changing Time for Each Tool given Total Production Cost

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

Non-Productive Cost of Each Component given Total Production Cost

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

Tool Changing Cost of Each Tool using Total Production Cost

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

Total Production Cost

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

Total Tool Changing Time given Total Production Cost

Go Total Tool Changing Time = (Total Production Cost-(Total Cost of Tools Used+Total Machining And Operating Cost+Total Non-Productive Cost))/(Number of Tools Used*Cost of A Tool)

Total Tool Changing Cost using Total Production Cost

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

Total Non-Productive Time using Total Production Cost

Go Non Productive Time = (Total Production Cost for Setup Time-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of A Tool)

Total Machining Time using Total Production Cost

Go Total Machining Time = (Total Production Cost-(Total Non-Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of A Tool)

Total Non-Productive Cost given Total Production Cost

Go Total Non Productive Cost = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used)

Total Cost of Tools given Total Production Cost

Go Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost)

Total Tool-Changing Cost

Go Total Tool Changing Cost = Total Tool Changing Time*Number of Tools Used

Time for Changing one Tool given Total Tool Changing Time

Go Time to Change One Tool = Total Tool Changing Time/Number of Tools Used

Total Tool Changing Time

Go Total Tool Changing Time = Number of Tools Used*Time to Change One Tool

Total Production Cost for given Batch Size

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

Batch Size given Total Production Cost

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

Cost of Tool given Total Cost of Tools

Go Cost of A Tool = Total Cost of Tools Used/Number of Tools Used

Total Cost of Tools Used

Go Total Cost of Tools Used = Number of Tools Used*Cost of A Tool

Total Cost of Tools Used Formula

Total Cost of Tools Used = Number of Tools Used*Cost of A Tool
TTC = N_t*C_t

Tool Failure and Need to change the Tool

The tool generally undergoes the following failure:
1. Fracture failure - Cutting force becomes excessive, leading to brittle fracture
2. Temperature failure - Cutting temperature is too high for the tool material
3. Gradual wear
Due to Wear, 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 Total Cost of Tools Used?

Total Cost of Tools Used calculator uses Total Cost of Tools Used = Number of Tools Used*Cost of A Tool to calculate the Total Cost of Tools Used, The Total Cost of Tools Used is defined as the total amount it took to buy a sufficient number of Machining Tools to be used for manufacturing a batch of components. Total Cost of Tools Used is denoted by TTC symbol.

How to calculate Total Cost of Tools Used using this online calculator? To use this online calculator for Total Cost of Tools Used, enter Number of Tools Used (N_t) & Cost of A Tool (C_t) and hit the calculate button. Here is how the Total Cost of Tools Used calculation can be explained with given input values -> 225 = 3*80.

FAQ

What is Total Cost of Tools Used?

The Total Cost of Tools Used is defined as the total amount it took to buy a sufficient number of Machining Tools to be used for manufacturing a batch of components and is represented as TTC = N_t*C_t or Total Cost of Tools Used = Number of Tools Used*Cost of A Tool. 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.

How to calculate Total Cost of Tools Used?

The Total Cost of Tools Used is defined as the total amount it took to buy a sufficient number of Machining Tools to be used for manufacturing a batch of components is calculated using Total Cost of Tools Used = Number of Tools Used*Cost of A Tool. To calculate Total Cost of Tools Used, you need Number of Tools Used (N_t) & Cost of A Tool (C_t). With our tool, you need to enter the respective value for Number of Tools Used & 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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