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Machining and Operating Cost of Each Product using Individual Cost Formula

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Machining Individual Cost of Each Product is the total amount of money required to individual machine a single product. Check FAQs

C i = \frac{TPC - (TNPC + TCC + TTC)}{B}

C_i - Machining Individual Cost of Each Product?TPC - Total Production Cost?TNPC - Total Non Productive Cost?TCC - Total Tool Changing Cost?TTC - Total Cost of Tools Used?B - Batch Size?

Machining and Operating Cost of Each Product using Individual Cost Example

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Here is how the Machining and Operating Cost of Each Product using Individual Cost equation looks like with Units.

Here is how the Machining and Operating Cost of Each Product using Individual Cost equation looks like.

14225 = \frac{30000 - (10 + 540 + 1000)}{2}

14225 = \frac{30000 - (10 + 540 + 1000)}{2}

14225 = \frac{30000 - (10 + 540 + 1000)}{2}

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Machining and Operating Cost of Each Product using Individual Cost Solution

Follow our step by step solution on how to calculate Machining and Operating Cost of Each Product using Individual Cost?

FIRST Step Consider the formula

C i = \frac{TPC - (TNPC + TCC + TTC)}{B}

Next Step Substitute values of Variables

∴

C i = \frac{30000 - (10 + 540 + 1000)}{2}

Next Step Prepare to Evaluate

∴

C i = \frac{30000 - (10 + 540 + 1000)}{2}

LAST Step Evaluate

∴

C i = 14225

Machining and Operating Cost of Each Product using Individual Cost Formula Elements

Variables

Machining Individual Cost of Each Product

Machining Individual Cost of Each Product is the total amount of money required to individual machine a single product.

Symbol: C_i

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Machining Individual Cost of Each Product

Total Production Cost

Total Production Cost is the total amount that it takes to produce a batch of components from scratch.

Symbol: TPC

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Total Production Cost

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.

Symbol: TNPC

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Total Non Productive Cost

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 one is paid by the hour.

Symbol: TCC

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Total Tool Changing Cost

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.

Symbol: TTC

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Total Cost of Tools Used

Batch Size

Batch Size refers to the number of components or parts produced in a single production run before the setup is changed for another product.

Symbol: B

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Batch Size

Other formulas in Machining Cost category

Go Total Machining and Operating Cost

C r = M \cdot TPT

Go Machining and Operating Rate given Total Machining and Operating Cost

M = \frac{C r}{TPT}

Go Total Machining and Operating Costs given Total Production Cost

C o = TPC - (TTC + TCC + TNPC)

Go Total Machining and Operating Costs using Average Production Cost

C o = (C pr - (C' avg \cdot NPT) - (\frac{N t}{B} \cdot (C' avg \cdot t c + C' avg))) \cdot B

How to Evaluate Machining and Operating Cost of Each Product using Individual Cost?

Machining and Operating Cost of Each Product using Individual Cost evaluator uses Machining Individual Cost of Each Product = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/Batch Size to evaluate the Machining Individual Cost of Each Product, Machining and Operating Cost of Each Product using Individual Cost is a method to determine the capital that must be invested for machining and operating processes to be afforded on a single product based on the total cost of different processes. Machining Individual Cost of Each Product is denoted by C_i symbol.

How to evaluate Machining and Operating Cost of Each Product using Individual Cost using this online evaluator? To use this online evaluator for Machining and Operating Cost of Each Product using Individual Cost, enter Total Production Cost (TPC), Total Non Productive Cost (TNPC), Total Tool Changing Cost (TCC), Total Cost of Tools Used (TTC) & Batch Size (B) and hit the calculate button.

FAQs on Machining and Operating Cost of Each Product using Individual Cost

What is the formula to find Machining and Operating Cost of Each Product using Individual Cost?

The formula of Machining and Operating Cost of Each Product using Individual Cost is expressed as Machining Individual Cost of Each Product = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/Batch Size. Here is an example- 14225 = (30000-(10+540+1000))/2.

How to calculate Machining and Operating Cost of Each Product using Individual Cost?

With Total Production Cost (TPC), Total Non Productive Cost (TNPC), Total Tool Changing Cost (TCC), Total Cost of Tools Used (TTC) & Batch Size (B) we can find Machining and Operating Cost of Each Product using Individual Cost using the formula - Machining Individual Cost of Each Product = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/Batch Size.

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Machining and Operating Cost of Each Product using Individual Cost Formula

Machining and Operating Cost of Each Product using Individual Cost Example

Machining and Operating Cost of Each Product using Individual Cost Solution

Machining and Operating Cost of Each Product using Individual Cost Formula Elements

Other formulas in Machining Cost category

How to Evaluate Machining and Operating Cost of Each Product using Individual Cost?

FAQs on Machining and Operating Cost of Each Product using Individual Cost

Variable Name