Total Machining and Operating Costs 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 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 [TTC]			+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 Costs given Individual Costs [C_m]

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Total Machining and Operating Costs given Individual Costs

Formula

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

Example

`"28450"="30000"-("10"+"540"+"1000")`

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Total Machining and Operating Costs given Individual Costs Solution

STEP 0: Pre-Calculation Summary

Formula Used

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

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 30000 --> No Conversion Required
Total Non Productive Cost: 10 --> No Conversion Required
Total Tool Changing Cost: 540 --> No Conversion Required
Total Cost of Tools Used: 1000 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_m = TPC-(TNPC+TCC+TTC) --> 30000-(10+540+1000)

Evaluating ... ...

C_m = 28450

STEP 3: Convert Result to Output's Unit

28450 --> No Conversion Required

FINAL ANSWER

28450 <-- 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 Costs given Individual Costs Formula

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

Significance of Machining and Operating Costs

The Machining and Operating Cost basically helps in determining the count of components that can be manufactured in the given resources. If this calculated cost is lower than the actual cost based on machining time, it means that the production planning has failed, as the total number of the components that are to be produced becomes lower than the starting batch size.

How to Calculate Total Machining and Operating Costs given Individual Costs?

Total Machining and Operating Costs given Individual Costs calculator uses Total Machining And Operating Cost = Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used) to calculate the Total Machining And Operating Cost, The Total Machining and Operating Costs given Individual Costs is a method to determine the capital that must be invested for machining and operating processes to be afforded for a whole batch when based on the expense it took for different activities of production. Total Machining And Operating Cost is denoted by C_m symbol.

How to calculate Total Machining and Operating Costs given Individual Costs using this online calculator? To use this online calculator for Total Machining and Operating Costs given Individual Costs, enter Total Production Cost (TPC), Total Non Productive Cost (TNPC), Total Tool Changing Cost (TCC) & Total Cost of Tools Used (TTC) and hit the calculate button. Here is how the Total Machining and Operating Costs given Individual Costs calculation can be explained with given input values -> 13920 = 30000-(10+540+1000).

FAQ

What is Total Machining and Operating Costs given Individual Costs?

The Total Machining and Operating Costs given Individual Costs is a method to determine the capital that must be invested for machining and operating processes to be afforded for a whole batch when based on the expense it took for different activities of production and is represented as C_m = TPC-(TNPC+TCC+TTC) or Total Machining And Operating Cost = Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used). 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 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 Cost of Tools Used is the sum of the amount of all tools that have been used for production.

How to calculate Total Machining and Operating Costs given Individual Costs?

The Total Machining and Operating Costs given Individual Costs is a method to determine the capital that must be invested for machining and operating processes to be afforded for a whole batch when based on the expense it took for different activities of production is calculated using Total Machining And Operating Cost = Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used). To calculate Total Machining and Operating Costs given Individual Costs, you need Total Production Cost (TPC), Total Non Productive Cost (TNPC), Total Tool Changing Cost (TCC) & Total Cost of Tools Used (TTC). With our tool, you need to enter the respective value for Total Production Cost, Total Non Productive Cost, Total Tool Changing Cost & Total Cost of Tools Used and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

How many ways are there to calculate Total Machining And Operating Cost?

In this formula, Total Machining And Operating Cost uses Total Production Cost, Total Non Productive Cost, Total Tool Changing Cost & Total Cost of Tools Used. We can use 2 other way(s) to calculate the same, which is/are as follows -

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 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

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