Total Cost of Tools Used given Individual Costs Calculator

✖Total Production Cost is the total amount that it takes to produce a batch of components from scratch.ⓘ Total Production Cost [TPC]			+10% -10%
✖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 Non Productive Cost [TNPC]			+10% -10%
✖Total Machining And Operating Cost is the total amount of money required to machine a given batch of product.ⓘ Total Machining And Operating Cost [C_m]			+10% -10%
✖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.ⓘ Total Tool Changing Cost [TCC]			+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 given Individual Costs [TTC]

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Formula

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Total Cost of Tools Used given Individual Costs

Formula

`"TTC" = "TPC"-("TNPC"+"C"_{"m"}+"TCC")`

Example

`"1000"="1650"-("10"+"100"+"540")`

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Total Cost of Tools Used given Individual Costs Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost)
TTC = TPC-(TNPC+C_m+TCC)
This formula uses 5 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.
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.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 1650 --> 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

STEP 2: Evaluate Formula

Substituting Input Values in Formula

TTC = TPC-(TNPC+C_m+TCC) --> 1650-(10+100+540)

Evaluating ... ...

TTC = 1000

STEP 3: Convert Result to Output's Unit

1000 --> No Conversion Required

FINAL ANSWER

1000 <-- Total Cost of Tools Used

(Calculation completed in 00.010 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!

< 13 Individual Cost Calculators

Tool Changing Time for Each Tool given Individual Costs

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

Setup Time for Each Product given Individual Costs

Go Setup 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*Batch Size)

Machining Time for Each Product given Individual Costs

Go Machining Time = (Total Production Cost-(Total Non-Productive 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)

Non-Productive Cost of One Component given Individual Costs

Go Non Another Productive Cost of Each Component = (Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/Batch Size

Tool Changing Cost of each Tool given Individual Costs

Go Cost of changing each Tool = (Total Production Cost-(Total Non Productive Cost+Total Machining And Operating Cost+Total Cost of Tools Used))/Number of Tools Used

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

Total Non-Productive Cost given Individual Costs

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

Total Tool Changing Cost given Individual Costs

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

Total Cost of Tools Used given Individual Costs

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

Total Production Cost given Individual Costs

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

Number of Tools Used given Total Tool Changing Time

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

Number of Tools used given Total Cost of Tools

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

Total Cost of Tools Used given Individual Costs Formula

Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost)
TTC = TPC-(TNPC+C_m+TCC)

Significance of Total Cost of Tools Used

The Total Cost of Tools Used helps us in determining the maximum amount of tool that can be renewed during the production of a given batch of products. This renewing might include buying or resharpening the tool. Thus if the number of Tools to be used gets bounded, the machining operation would have to be optimized in order to give sufficient tool life to survive against the boundation.

How to Calculate Total Cost of Tools Used given Individual Costs?

Total Cost of Tools Used given Individual Costs calculator uses Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost) to calculate the Total Cost of Tools Used, The Total Cost of Tools Used given Individual Costs is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components when the cost of different activities of production is known. Total Cost of Tools Used is denoted by TTC symbol.

How to calculate Total Cost of Tools Used given Individual Costs using this online calculator? To use this online calculator for Total Cost of Tools Used given Individual Costs, enter Total Production Cost (TPC), Total Non Productive Cost (TNPC), Total Machining And Operating Cost (C_m) & Total Tool Changing Cost (TCC) and hit the calculate button. Here is how the Total Cost of Tools Used given Individual Costs calculation can be explained with given input values -> 29350 = 1650-(10+100+540).

FAQ

What is Total Cost of Tools Used given Individual Costs?

The Total Cost of Tools Used given Individual Costs is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components when the cost of different activities of production is known and is represented as TTC = TPC-(TNPC+C_m+TCC) or Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost). 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.

How to calculate Total Cost of Tools Used given Individual Costs?

The Total Cost of Tools Used given Individual Costs is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components when the cost of different activities of production is known is calculated using Total Cost of Tools Used = Total Production Cost-(Total Non Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost). To calculate Total Cost of Tools Used given Individual Costs, you need Total Production Cost (TPC), Total Non Productive Cost (TNPC), Total Machining And Operating Cost (C_m) & Total Tool Changing Cost (TCC). 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 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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