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Cost of Tool given Total Cost of Tools Formula

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Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs. Check FAQs

C = \frac{C t}{N t}

C - Cost of a Tool?C_t - Total Cost of Tools Used?N_t - Number of Tools Used?

Cost of Tool given Total Cost of Tools Example

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Here is how the Cost of Tool given Total Cost of Tools equation looks like with Values.

Here is how the Cost of Tool given Total Cost of Tools equation looks like with Units.

Here is how the Cost of Tool given Total Cost of Tools equation looks like.

80 = \frac{240}{3}

80 = \frac{240}{3}

80 = \frac{240}{3}

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Cost of Tool given Total Cost of Tools Solution

Follow our step by step solution on how to calculate Cost of Tool given Total Cost of Tools?

FIRST Step Consider the formula

C = \frac{C t}{N t}

Next Step Substitute values of Variables

∴

C = \frac{240}{3}

Next Step Prepare to Evaluate

∴

C = \frac{240}{3}

LAST Step Evaluate

∴

C = 80

Cost of Tool given Total Cost of Tools Formula Elements

Variables

Cost of a Tool

Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs.

Symbol: C

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Cost of a Tool

Total Cost of Tools Used

Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.

Symbol: C_t

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Total Cost of Tools Used

Number of Tools Used

The Number of Tools Used is the total number of tools used for manufacturing a batch of products.

Symbol: N_t

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Number of Tools Used

Other formulas in Total Production Cost category

Go Total Production Cost for given Batch Size

C tp = N \cdot C p

Go Total Production Cost

C tp = N \cdot (C \cdot (t s + t)) + N t \cdot (C \cdot t c + C)

Go Total Non-Productive Cost given Total Production Cost

T npc = C tp - (C m + C ct + C t)

Go Non-Productive Cost of Each Component given Total Production Cost

C np = C tp - (N \cdot C \cdot t + N t \cdot ((C \cdot t c) + C))

How to Evaluate Cost of Tool given Total Cost of Tools?

Cost of Tool given Total Cost of Tools evaluator uses Cost of a Tool = Total Cost of Tools Used/Number of Tools Used to evaluate the Cost of a Tool, The Cost of Tool given Total Cost of Tools is a method to determine the maximum price of each tool that can be afforded when the total resources available and total requirement for machining tools for a batch production is known. Cost of a Tool is denoted by C symbol.

How to evaluate Cost of Tool given Total Cost of Tools using this online evaluator? To use this online evaluator for Cost of Tool given Total Cost of Tools, enter Total Cost of Tools Used (C_t) & Number of Tools Used (N_t) and hit the calculate button.

FAQs on Cost of Tool given Total Cost of Tools

What is the formula to find Cost of Tool given Total Cost of Tools?

The formula of Cost of Tool given Total Cost of Tools is expressed as Cost of a Tool = Total Cost of Tools Used/Number of Tools Used. Here is an example- 166.6667 = 240/3.

How to calculate Cost of Tool given Total Cost of Tools?

With Total Cost of Tools Used (C_t) & Number of Tools Used (N_t) we can find Cost of Tool given Total Cost of Tools using the formula - Cost of a Tool = Total Cost of Tools Used/Number of Tools Used.

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Cost of Tool given Total Cost of Tools Formula

Cost of Tool given Total Cost of Tools Example

Cost of Tool given Total Cost of Tools Solution

Cost of Tool given Total Cost of Tools Formula Elements

Other formulas in Total Production Cost category

How to Evaluate Cost of Tool given Total Cost of Tools?

FAQs on Cost of Tool given Total Cost of Tools

Variable Name