Total Machining and Operating Cost Calculator

✖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%
✖Total Production Time is the net time taken to produce a complete match of products, including overheads.ⓘ Total Production Time [TPT]			+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]

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Formula

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Total Machining and Operating Cost

Formula

`"C"_{"m"} = "M"*"TPT"`

Example

`"60000"="100"*"10min"`

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Total Machining and Operating Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Machining And Operating Cost = Machining and Operating Rate*Total Production Time
C_m = M*TPT
This formula uses 3 Variables

Variables Used

Total Machining And Operating Cost - Total Machining And Operating Cost is the total amount of money required to machine a given batch of product.
Machining and Operating Rate - Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Total Production Time - (Measured in Second) - Total Production Time is the net time taken to produce a complete match of products, including overheads.

STEP 1: Convert Input(s) to Base Unit

Machining and Operating Rate: 100 --> No Conversion Required
Total Production Time: 10 Minute --> 600 Second (Check conversion here)

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_m = M*TPT --> 100*600

Evaluating ... ...

C_m = 60000

STEP 3: Convert Result to Output's Unit

60000 --> No Conversion Required

FINAL ANSWER

60000 <-- Total Machining And Operating Cost

(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!

< 17 Machining Cost Calculators

Machining and Operating Rate given Machining Cost for Maximum Power

Go Machining and Operating Rate = ((Machining and Operating Cost of Each Product/Machining Time for Maximum Power)-(Time Proportion of Cutting Edge Engagement*Cost of a Tool/Tool Life))/((Time Proportion of Cutting Edge Engagement*Time to Change One Tool/Tool Life)+1)

Machining Rate given Machining Cost for Maximum Power with limited Cutting Speed

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

Machining and Operating Rate given Machining Cost

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

Total Machining and Operating Costs using Average Production Cost

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

Number of shifts given Total rate for Machining and Operator

Go Number of Shifts = (Factor to allow for Machining*Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f))/((Total Rate of Machining and Operator-(Factor to allow for Operator*Direct Labor Rate))*(2*Amortized Years))

Factor to allow for Machining overheads given Total rate for Machining and Operator

Go Factor to allow for Machining = (Total Rate of Machining and Operator-(Factor to allow for Operator*Direct Labor Rate))*(2*Amortized Years*Number of Shifts)/(Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f))

Factor to allow for Operator overheads given Total rate for Machining and Operator

Go Factor to allow for Operator = (Total Rate of Machining and Operator-((Factor to allow for Machining*Constant for Tool Type(e)*Initial Work Piece Weight^Constant for Tool Type(f))/(2*Amortized Years*Number of Shifts)))/Direct Labor Rate

Machining and Operating Cost of Each Product using Average Production Cost

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

Machining and Operating Cost of Each Product using Total Production Cost

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

Machining and Operating Rate given Tool Life for Minimum Machining Cost

Go Machining and Operating Rate = 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 Cost of Each Product using Individual Cost

Go Machining Individual Cost of Each Product = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/Batch Size

Total Machining and Operating Costs given Total Production Cost

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

Total Machining and Operating Costs given Individual Costs

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

Machining and Operating Rate for Minimum Machining Cost

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

Machining and Operating Rate given Total Machining and Operating Cost

Go Machining and Operating Rate = Total Machining And Operating Cost/Total Production Time

Total Machining and Operating Cost

Go Total Machining And Operating Cost = Machining and Operating Rate*Total Production Time

Total Non-Productive Cost

Go Total Production Cost = Non-Productive Time*Machining and Operating Rate

Total Machining and Operating Cost Formula

Total Machining And Operating Cost = Machining and Operating Rate*Total Production Time
C_m = M*TPT

Why do we need a Cost Estimation Method ?

We need to Estimate our machining cost because
1. To identify if a product is feasible or not, and modify it in an early design stage.
2. To define the product price.
3. To verily offers obtained from different suppliers
4. To identify the most economical process to manufacture the product.
5. To identify expenses and help in the minimization
6. To take strategical decisions: eliminate a product, subcontracting, discounts.

How to Calculate Total Machining and Operating Cost?

Total Machining and Operating Cost calculator uses Total Machining And Operating Cost = Machining and Operating Rate*Total Production Time to calculate the Total Machining And Operating Cost, The Total Machining and Operating Cost is defined as the total amount of money required to machine a given batch of products. Total Machining And Operating Cost is denoted by C_m symbol.

How to calculate Total Machining and Operating Cost using this online calculator? To use this online calculator for Total Machining and Operating Cost, enter Machining and Operating Rate (M) & Total Production Time (TPT) and hit the calculate button. Here is how the Total Machining and Operating Cost calculation can be explained with given input values -> 60000 = 100*600.

FAQ

What is Total Machining and Operating Cost?

The Total Machining and Operating Cost is defined as the total amount of money required to machine a given batch of products and is represented as C_m = M*TPT or Total Machining And Operating Cost = Machining and Operating Rate*Total Production Time. Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads & Total Production Time is the net time taken to produce a complete match of products, including overheads.

How to calculate Total Machining and Operating Cost?

The Total Machining and Operating Cost is defined as the total amount of money required to machine a given batch of products is calculated using Total Machining And Operating Cost = Machining and Operating Rate*Total Production Time. To calculate Total Machining and Operating Cost, you need Machining and Operating Rate (M) & Total Production Time (TPT). With our tool, you need to enter the respective value for Machining and Operating Rate & Total Production Time 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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