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Cost of each Tool given Production Cost per Component Formula

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The Cost of A Tool is simply the cost of one tool being used for machining. Check FAQs

C t = (\frac{C p - M \cdot (NPT + \frac{K}{V})}{(\frac{K}{L ref \cdot {V ref}^{\frac{1}{n}}}) \cdot (V^{\frac{1 - n}{n}})}) - (t c \cdot M)

C_t - Cost of A Tool?C_p - Production Cost of Each Component?M - Machining And Operating Rate?NPT - Non-Productive Time?K - Constant For Machining Condition?V - Cutting Velocity?L_ref - Reference Tool Life?V_ref - Reference Cutting Velocity?n - Taylors Tool Life Exponent?t_c - Time to Change One Tool?

Cost of each Tool given Production Cost per Component Example

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Here is how the Cost of each Tool given Production Cost per Component equation looks like with Values.

Here is how the Cost of each Tool given Production Cost per Component equation looks like with Units.

Here is how the Cost of each Tool given Production Cost per Component equation looks like.

99.9997 = (\frac{5.6553 - 0.0028 \cdot (20 + \frac{203.0681}{0.28})}{(\frac{203.0681}{2 \cdot {0.76}^{\frac{1}{0.125}}}) \cdot ({0.28}^{\frac{1 - 0.125}{0.125}})}) - (5 \cdot 0.0028)

99.9997 = (\frac{5.6553 - 0.0028 \cdot (20min + \frac{203.0681m}{0.28m/s})}{(\frac{203.0681m}{2min \cdot {0.76m/s}^{\frac{1}{0.125}}}) \cdot ({0.28m/s}^{\frac{1 - 0.125}{0.125}})}) - (5min \cdot 0.0028)

99.9997 = (\frac{5.6553 - 0.0028 \cdot (20 + \frac{203.0681}{0.28})}{(\frac{203.0681}{2 \cdot {0.76}^{\frac{1}{0.125}}}) \cdot ({0.28}^{\frac{1 - 0.125}{0.125}})}) - (5 \cdot 0.0028)

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Cost of each Tool given Production Cost per Component Solution

Follow our step by step solution on how to calculate Cost of each Tool given Production Cost per Component?

FIRST Step Consider the formula

C t = (\frac{C p - M \cdot (NPT + \frac{K}{V})}{(\frac{K}{L ref \cdot {V ref}^{\frac{1}{n}}}) \cdot (V^{\frac{1 - n}{n}})}) - (t c \cdot M)

Next Step Substitute values of Variables

∴

C t = (\frac{5.6553 - 0.0028 \cdot (20min + \frac{203.0681m}{0.28m/s})}{(\frac{203.0681m}{2min \cdot {0.76m/s}^{\frac{1}{0.125}}}) \cdot ({0.28m/s}^{\frac{1 - 0.125}{0.125}})}) - (5min \cdot 0.0028)

Next Step Convert Units

∴

C t = (\frac{5.6553 - 0.0028 \cdot (1200s + \frac{203.0681m}{0.28m/s})}{(\frac{203.0681m}{120s \cdot {0.76m/s}^{\frac{1}{0.125}}}) \cdot ({0.28m/s}^{\frac{1 - 0.125}{0.125}})}) - (300s \cdot 0.0028)

Next Step Prepare to Evaluate

∴

C t = (\frac{5.6553 - 0.0028 \cdot (1200 + \frac{203.0681}{0.28})}{(\frac{203.0681}{120 \cdot {0.76}^{\frac{1}{0.125}}}) \cdot ({0.28}^{\frac{1 - 0.125}{0.125}})}) - (300 \cdot 0.0028)

Next Step Evaluate

∴

C t = 99.9997317408708

LAST Step Rounding Answer

∴

C t = 99.9997

Cost of each Tool given Production Cost per Component Formula Elements

Variables

Cost of A Tool

The Cost of A Tool is simply the cost of one tool being used for machining.

Symbol: C_t

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Cost of A Tool

Production Cost of Each Component

Production Cost of Each Component is the total amount that it takes to produce a single component from scratch.

Symbol: C_p

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Production Cost of Each Component

Machining And Operating Rate

Machining And Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.

Symbol: M

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Machining And Operating Rate

Non-Productive Time

Non-Productive Time is the total time wasted in setting up the machine or workpiece for a particular process.

Symbol: NPT

Measurement: TimeUnit: min

Note: Value should be greater than 0.

Formulas to find Non-Productive Time

Constant For Machining Condition

Constant For Machining Condition can be regarded as the distance moved by the tool corner relative to the workpiece during a particular machining condition. It is usually measured in Metre.

Symbol: K

Measurement: LengthUnit: m

Note: Value should be greater than 0.

Formulas to find Constant For Machining Condition

Cutting Velocity

The Cutting Velocity is the tangential velocity at the periphery of the cutter or workpiece (whichever is rotating).

Symbol: V

Measurement: SpeedUnit: m/s

Note: Value should be greater than 0.

Formulas to find Cutting Velocity

Reference Tool Life

Reference Tool Life is the tool life of the tool obtained in the reference machining condition.

Symbol: L_ref

Measurement: TimeUnit: min

Note: Value should be greater than 0.

Formulas to find Reference Tool Life

Reference Cutting Velocity

Reference Cutting Velocity is the cutting velocity of the tool used in the reference machining condition.

Symbol: V_ref

Measurement: SpeedUnit: m/s

Note: Value should be greater than 0.

Formulas to find Reference Cutting Velocity

Taylors Tool Life Exponent

Taylors Tool Life Exponent is an experimental exponent that helps in quantifying the rate of tool wear.

Symbol: n

Measurement: NAUnit: Unitless

Note: Value should be between 0 to 1.

Formulas to find Taylors Tool Life Exponent

Time to Change One Tool

Time to Change One Tool is the measure of time it takes to change one tool during machining.

Symbol: t_c

Measurement: TimeUnit: min

Note: Value should be greater than 0.

Formulas to find Time to Change One Tool

Other formulas in Production Cost per Component category

Go Production Cost per Component for Constant-Speed-Rough-Machining given Tool Changing Cost

C p = M \cdot (NPT + \frac{K}{V}) + (\frac{K}{L ref \cdot {V ref}^{\frac{1}{n}}}) \cdot (C ct + C t) \cdot (V^{\frac{1 - n}{n}})

Go Production Cost per Component in Constant-Cutting-Speed, Rough-Machining Operation

C p = M \cdot (NPT + \frac{K}{V}) + (\frac{K}{L ref \cdot {V ref}^{\frac{1}{n}}}) \cdot (M \cdot t c + C t) \cdot (V^{\frac{1 - n}{n}})

How to Evaluate Cost of each Tool given Production Cost per Component?

Cost of each Tool given Production Cost per Component evaluator uses Cost of A Tool = ((Production Cost of Each Component-Machining And Operating Rate*(Non-Productive Time+Constant For Machining Condition/Cutting Velocity))/((Constant For Machining Condition/(Reference Tool Life*Reference Cutting Velocity^(1/Taylors Tool Life Exponent)))*(Cutting Velocity^((1-Taylors Tool Life Exponent)/Taylors Tool Life Exponent))))-(Time to Change One Tool*Machining And Operating Rate) to evaluate the Cost of A Tool, The Cost of each Tool given Production Cost per Component is a method to determine the total amount available to be spent on renewing the Machining Tool for the production of a single component in terms of the cost of production. Cost of A Tool is denoted by C_t symbol.

How to evaluate Cost of each Tool given Production Cost per Component using this online evaluator? To use this online evaluator for Cost of each Tool given Production Cost per Component, enter Production Cost of Each Component (C_p), Machining And Operating Rate (M), Non-Productive Time (NPT), Constant For Machining Condition (K), Cutting Velocity (V), Reference Tool Life (L_ref), Reference Cutting Velocity (V_ref), Taylors Tool Life Exponent (n) & Time to Change One Tool (t_c) and hit the calculate button.

FAQs on Cost of each Tool given Production Cost per Component

What is the formula to find Cost of each Tool given Production Cost per Component?

The formula of Cost of each Tool given Production Cost per Component is expressed as Cost of A Tool = ((Production Cost of Each Component-Machining And Operating Rate*(Non-Productive Time+Constant For Machining Condition/Cutting Velocity))/((Constant For Machining Condition/(Reference Tool Life*Reference Cutting Velocity^(1/Taylors Tool Life Exponent)))*(Cutting Velocity^((1-Taylors Tool Life Exponent)/Taylors Tool Life Exponent))))-(Time to Change One Tool*Machining And Operating Rate). Here is an example- 99.99973 = ((5.655323-0.00283*(1200+203.0681/0.28))/((203.0681/(120*0.76^(1/0.125)))*(0.28^((1-0.125)/0.125))))-(300*0.00283).

How to calculate Cost of each Tool given Production Cost per Component?

With Production Cost of Each Component (C_p), Machining And Operating Rate (M), Non-Productive Time (NPT), Constant For Machining Condition (K), Cutting Velocity (V), Reference Tool Life (L_ref), Reference Cutting Velocity (V_ref), Taylors Tool Life Exponent (n) & Time to Change One Tool (t_c) we can find Cost of each Tool given Production Cost per Component using the formula - Cost of A Tool = ((Production Cost of Each Component-Machining And Operating Rate*(Non-Productive Time+Constant For Machining Condition/Cutting Velocity))/((Constant For Machining Condition/(Reference Tool Life*Reference Cutting Velocity^(1/Taylors Tool Life Exponent)))*(Cutting Velocity^((1-Taylors Tool Life Exponent)/Taylors Tool Life Exponent))))-(Time to Change One Tool*Machining And Operating Rate).

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Cost of each Tool given Production Cost per Component Formula

Cost of each Tool given Production Cost per Component Example

Cost of each Tool given Production Cost per Component Solution

Cost of each Tool given Production Cost per Component Formula Elements

Other formulas in Production Cost per Component category

How to Evaluate Cost of each Tool given Production Cost per Component?

FAQs on Cost of each Tool given Production Cost per Component

Variable Name