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Machining and Operating Rate given Average Production Cost of each Component Formula

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Machining and operating rate refers to the speed at which material is removed from a workpiece during a machining operation. Check FAQs

M = \frac{C pr - (N t \cdot \frac{C t}{N b})}{t s + t m + (N t \cdot \frac{T}{N b})}

M - Machining and Operating Rate?C_pr - Production Cost of Each Component?N_t - Number of Tools Used?C_t - Cost of a Tool?N_b - Batch Size?t_s - Setup Time?t_m - Machining Time?T - Tool Changing Time?

Machining and Operating Rate given Average Production Cost of each Component Example

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Here is how the Machining and Operating Rate given Average Production Cost of each Component equation looks like with Values.

Here is how the Machining and Operating Rate given Average Production Cost of each Component equation looks like with Units.

Here is how the Machining and Operating Rate given Average Production Cost of each Component equation looks like.

98.9474 = \frac{11400 - (3 \cdot \frac{80}{2})}{0.45 + 1.15 + (3 \cdot \frac{0.2}{2})}

98.9474 = \frac{11400 - (3 \cdot \frac{80}{2})}{0.45min + 1.15min + (3 \cdot \frac{0.2min}{2})}

98.9474 = \frac{11400 - (3 \cdot \frac{80}{2})}{0.45 + 1.15 + (3 \cdot \frac{0.2}{2})}

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Machining and Operating Rate given Average Production Cost of each Component Solution

Follow our step by step solution on how to calculate Machining and Operating Rate given Average Production Cost of each Component?

FIRST Step Consider the formula

M = \frac{C pr - (N t \cdot \frac{C t}{N b})}{t s + t m + (N t \cdot \frac{T}{N b})}

Next Step Substitute values of Variables

∴

M = \frac{11400 - (3 \cdot \frac{80}{2})}{0.45min + 1.15min + (3 \cdot \frac{0.2min}{2})}

Next Step Convert Units

∴

M = \frac{11400 - (3 \cdot \frac{80}{2})}{27s + 69s + (3 \cdot \frac{12s}{2})}

Next Step Prepare to Evaluate

∴

M = \frac{11400 - (3 \cdot \frac{80}{2})}{27 + 69 + (3 \cdot \frac{12}{2})}

Next Step Evaluate

∴

M = 98.9473684210526

LAST Step Rounding Answer

∴

M = 98.9474

Machining and Operating Rate given Average Production Cost of each Component Formula Elements

Variables

Machining and Operating Rate

Machining and operating rate refers to the speed at which material is removed from a workpiece during a machining operation.

Symbol: M

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Machining and Operating Rate

Production Cost of Each Component

Production cost of each component involves accounting for various factors, including material costs, labor, machine operating costs, tool costs, overhead, and other related expenses.

Symbol: C_pr

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Production Cost of Each Component

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

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_t

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Cost of a Tool

Batch Size

Batch size refers to the number of identical parts produced in a single production run or cycle.

Symbol: N_b

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Batch Size

Setup Time

Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.

Symbol: t_s

Measurement: TimeUnit: min

Note: Value should be greater than 0.

Formulas to find Setup Time

Machining Time

Machining time refers to the total time required to complete a specific machining operation on a workpiece.

Symbol: t_m

Measurement: TimeUnit: min

Note: Value should be greater than 0.

Formulas to find Machining Time

Tool Changing Time

Tool changing time referred to as tool change time, is the duration required to remove a used tool and replace it with a new one.

Symbol: T

Measurement: TimeUnit: min

Note: Value should be greater than 0.

Formulas to find Tool Changing Time

Other formulas in Average Production Cost category

Go Number of Tools used given Average Production Cost

N t = N b \cdot \frac{C pr - C t \cdot (t s + t m)}{C t \cdot t c + C t}

Go Number of Tools used given Average Production Time

N t = N b \cdot \frac{t p - (t s + t m)}{t c}

How to Evaluate Machining and Operating Rate given Average Production Cost of each Component?

Machining and Operating Rate given Average Production Cost of each Component evaluator uses Machining and Operating Rate = (Production Cost of Each Component-(Number of Tools Used*Cost of a Tool/Batch Size))/(Setup Time+Machining Time+(Number of Tools Used*Tool Changing Time/Batch Size)) to evaluate the Machining and Operating Rate, The Machining and Operating Rate given Average Production Cost of each Component is a method to determine the maximum expense rate that can be afforded on machines and operators when based on the expense it took to manufacture a single component. Machining and Operating Rate is denoted by M symbol.

How to evaluate Machining and Operating Rate given Average Production Cost of each Component using this online evaluator? To use this online evaluator for Machining and Operating Rate given Average Production Cost of each Component, enter Production Cost of Each Component (C_pr), Number of Tools Used (N_t), Cost of a Tool (C_t), Batch Size (N_b), Setup Time (t_s), Machining Time (t_m) & Tool Changing Time (T) and hit the calculate button.

FAQs on Machining and Operating Rate given Average Production Cost of each Component

What is the formula to find Machining and Operating Rate given Average Production Cost of each Component?

The formula of Machining and Operating Rate given Average Production Cost of each Component is expressed as Machining and Operating Rate = (Production Cost of Each Component-(Number of Tools Used*Cost of a Tool/Batch Size))/(Setup Time+Machining Time+(Number of Tools Used*Tool Changing Time/Batch Size)). Here is an example- 98.94737 = (11400-(3*80/2))/(27+69+(3*12/2)).

How to calculate Machining and Operating Rate given Average Production Cost of each Component?

With Production Cost of Each Component (C_pr), Number of Tools Used (N_t), Cost of a Tool (C_t), Batch Size (N_b), Setup Time (t_s), Machining Time (t_m) & Tool Changing Time (T) we can find Machining and Operating Rate given Average Production Cost of each Component using the formula - Machining and Operating Rate = (Production Cost of Each Component-(Number of Tools Used*Cost of a Tool/Batch Size))/(Setup Time+Machining Time+(Number of Tools Used*Tool Changing Time/Batch Size)).

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Machining and Operating Rate given Average Production Cost of each Component Formula

Machining and Operating Rate given Average Production Cost of each Component Example

Machining and Operating Rate given Average Production Cost of each Component Solution

Machining and Operating Rate given Average Production Cost of each Component Formula Elements

Other formulas in Average Production Cost category

How to Evaluate Machining and Operating Rate given Average Production Cost of each Component?

FAQs on Machining and Operating Rate given Average Production Cost of each Component

Variable Name