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Cost of Production given Profit Rate Formula

GoCost of Production given Profit per Component Formula

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

C pr = S - (MPR \cdot t p)

C_pr - Production Cost of Each Component?S - Amount Received For Each Component?MPR - Maximum Profit Rate?t_p - Average Production Time?

Cost of Production given Profit Rate Example

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Here is how the Cost of Production given Profit Rate equation looks like with Values.

Here is how the Cost of Production given Profit Rate equation looks like with Units.

Here is how the Cost of Production given Profit Rate equation looks like.

15000.0031 = 20000 - (8.2508 \cdot 10.1)

15000.0031 = 20000 - (8.2508 \cdot 10.1min)

15000.0031 = 20000 - (8.2508 \cdot 10.1)

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Cost of Production given Profit Rate Solution

Follow our step by step solution on how to calculate Cost of Production given Profit Rate?

FIRST Step Consider the formula

C pr = S - (MPR \cdot t p)

Next Step Substitute values of Variables

∴

C pr = 20000 - (8.2508 \cdot 10.1min)

Next Step Convert Units

∴

C pr = 20000 - (8.2508 \cdot 606s)

Next Step Prepare to Evaluate

∴

C pr = 20000 - (8.2508 \cdot 606)

Next Step Evaluate

∴

C pr = 15000.00308

LAST Step Rounding Answer

∴

C pr = 15000.0031

Cost of Production given Profit Rate Formula Elements

Variables

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_pr

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Production Cost of Each Component

Amount Received For Each Component

Amount Received For Each Component is the amount of money the machine shop receives for machining each component.

Symbol: S

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Amount Received For Each Component

Maximum Profit Rate

Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.

Symbol: MPR

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Maximum Profit Rate

Average Production Time

Average Production Time is the time taken to produce a single component out of a lot of produced batches.

Symbol: t_p

Measurement: TimeUnit: min

Note: Value should be greater than 0.

Formulas to find Average Production Time

Other Formulas to find Production Cost of Each Component

Go Cost of Production given Profit per Component

C pr = S - P

Other formulas in Maximum Efficiency category

Go Amount Received by Machine Shop given Profit per Component

S = P + C pr

Go Profit per component produced

P = S - C pr

Go Rate of Profit

MPR = \frac{S - C pr}{t p}

Go Production Time per component given Profit Rate

t p = \frac{S - C pr}{MPR}

How to Evaluate Cost of Production given Profit Rate?

Cost of Production given Profit Rate evaluator uses Production Cost of Each Component = Amount Received For Each Component-(Maximum Profit Rate*Average Production Time) to evaluate the Production Cost of Each Component, The Cost of Production given Profit Rate is a method to determine the production cost of a single component based on the profit the machine shop makes on it. Production Cost of Each Component is denoted by C_pr symbol.

How to evaluate Cost of Production given Profit Rate using this online evaluator? To use this online evaluator for Cost of Production given Profit Rate, enter Amount Received For Each Component (S), Maximum Profit Rate (MPR) & Average Production Time (t_p) and hit the calculate button.

FAQs on Cost of Production given Profit Rate

What is the formula to find Cost of Production given Profit Rate?

The formula of Cost of Production given Profit Rate is expressed as Production Cost of Each Component = Amount Received For Each Component-(Maximum Profit Rate*Average Production Time). Here is an example- 17212.4 = 20000-(8.25082*606).

How to calculate Cost of Production given Profit Rate?

With Amount Received For Each Component (S), Maximum Profit Rate (MPR) & Average Production Time (t_p) we can find Cost of Production given Profit Rate using the formula - Production Cost of Each Component = Amount Received For Each Component-(Maximum Profit Rate*Average Production Time).

What are the other ways to Calculate Production Cost of Each Component?

Here are the different ways to Calculate Production Cost of Each Component-

Production Cost of Each Component=Amount Received For Each Component-Profit Per Component

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Cost of Production given Profit Rate Formula

​GoCost of Production given Profit per Component Formula

Cost of Production given Profit Rate Example

Cost of Production given Profit Rate Solution

Cost of Production given Profit Rate Formula Elements

Other Formulas to find Production Cost of Each Component

Other formulas in Maximum Efficiency category

How to Evaluate Cost of Production given Profit Rate?

FAQs on Cost of Production given Profit Rate

Variable Name

GoCost of Production given Profit per Component Formula