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
Cm = 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
Cm = M*TPT --> 100*600
Evaluating ... ...
Cm = 60000
STEP 3: Convert Result to Output's Unit
60000 --> No Conversion Required
FINAL ANSWER
60000 <-- Total Machining And Operating Cost
(Calculation completed in 00.020 seconds)

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!

22 Economics Of Metal-Cutting Operation Calculators

Total Production Time given Time for Individual Operation and Batch Size
Go Total Production Time = (Batch Size*Setup Time+Batch Size*Machining Time+Number of Tools Used*Time to Change One Tool)
Non-Productive Time for Each Component given Average Production Time
Go Setup Time = Average Production Time-(Machining Time+(Number of Tools Used*Time to Change One Tool/Batch Size))
Time for changing one Tool given Average Production Time
Go Time to Change One Tool = (Average Production Time-(Setup Time+Machining Time))*Batch Size/Number of Tools Used
Machining Time of Each Component given Average Production Time
Go Machining Time = Average Production Time-Setup Time-(Number of Tools Used*Time to Change One Tool/Batch Size)
Batch Size given Average Production Time
Go Batch Size = Time to Change One Tool*Number of Tools Used/(Average Production Time-(Setup Time+Machining Time))
Average Production Time of Each Component
Go Average Production Time = Setup Time+Machining Time+(Number of Tools Used*Time to Change One Tool/Batch Size)
Total Production Time
Go Total Production Time = (Total Machining Time+Non-Productive Time+Total Tool Changing Time)
Machining and Operating Rate given Total Machining and Operating Cost
Go Machining and Operating Rate = Total Machining And Operating Cost/Total Production Time
Total Production Time given Total Machining and Operating Cost
Go Total Production Time = Total Machining And Operating Cost/Machining and Operating Rate
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 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
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
Machining Time for one Component using Total Machining Time
Go Machining Time = Total Machining Time/Batch Size
Total Machining Time or Total Machine Time
Go Total Machining Time = Batch Size*Machining Time
Size of Batch given Total Machining Time
Go Batch Size = Total Machining Time/Machining Time
Load or Unload or Setup Time given Total Non-Productive Time
Go Setup Time = Non-Productive Time/Batch Size
Size of Batch using Total Non-Productive Time
Go Batch Size = Non-Productive Time/Setup Time
Total Non-Productive Time
Go Non-Productive Time = Batch Size*Setup Time

Total Machining and Operating Cost Formula

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