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Machining Cost given Tool Changing Cost per Tool Formula

GoMachining Cost per component Formula

GoMinimum Cost of Machining per component Formula

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

C m = t m \cdot (M + (Q \cdot \frac{C ct + C t}{T}))

C_m - Machining And Operating Cost of Each Product?t_m - Machining Time?M - Machining And Operating Rate?Q - Time Proportion of Cutting Edge Engagement?C_ct - Cost of Changing Each Tool?C_t - Cost of A Tool?T - Tool Life?

Machining Cost given Tool Changing Cost per Tool Example

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Here is how the Machining Cost given Tool Changing Cost per Tool equation looks like with Values.

Here is how the Machining Cost given Tool Changing Cost per Tool equation looks like with Units.

Here is how the Machining Cost given Tool Changing Cost per Tool equation looks like.

4650.5 = 30 \cdot (101 + (0.5 \cdot \frac{7575 + 478575}{4500}))

4650.5 = 30s \cdot (101 + (0.5 \cdot \frac{7575 + 478575}{4500s}))

4650.5 = 30 \cdot (101 + (0.5 \cdot \frac{7575 + 478575}{4500}))

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Machining Cost given Tool Changing Cost per Tool Solution

Follow our step by step solution on how to calculate Machining Cost given Tool Changing Cost per Tool?

FIRST Step Consider the formula

C m = t m \cdot (M + (Q \cdot \frac{C ct + C t}{T}))

Next Step Substitute values of Variables

∴

C m = 30s \cdot (101 + (0.5 \cdot \frac{7575 + 478575}{4500s}))

Next Step Prepare to Evaluate

∴

C m = 30 \cdot (101 + (0.5 \cdot \frac{7575 + 478575}{4500}))

LAST Step Evaluate

∴

C m = 4650.5

Machining Cost given Tool Changing Cost per Tool Formula Elements

Variables

Machining And Operating Cost of Each Product

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

Symbol: C_m

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Machining And Operating Cost of Each Product

Machining Time

Machining Time is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material.

Symbol: t_m

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Machining Time

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

Time Proportion of Cutting Edge Engagement

Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.

Symbol: Q

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Time Proportion of Cutting Edge Engagement

Cost of Changing Each Tool

Cost of Changing Each Tool is the cost that arises due to the time taken by the operator to change one tool when he is paid by the hour.

Symbol: C_ct

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Cost of Changing Each Tool

Cost of A Tool

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

Tool Life

Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.

Symbol: T

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Tool Life

Other Formulas to find Machining And Operating Cost of Each Product

Go Machining Cost per component

C m = t m \cdot (M + (Q \cdot \frac{M \cdot t c + C t}{T}))

Go Minimum Cost of Machining per component

C m = M \cdot \frac{t mc}{1 - n}

Other formulas in Tool Cost category

Go Tool Changing Cost per Tool given Machining Cost

C ct = (T \cdot \frac{(\frac{C m}{t m}) - M}{Q}) - C t

Go Time Proportion of Cutting Edge Engagement given Machining Cost

Q = T \cdot \frac{(\frac{C m}{t m}) - M}{M \cdot t c + C t}

How to Evaluate Machining Cost given Tool Changing Cost per Tool?

Machining Cost given Tool Changing Cost per Tool evaluator uses Machining And Operating Cost of Each Product = Machining Time*(Machining And Operating Rate+(Time Proportion of Cutting Edge Engagement*(Cost of Changing Each Tool+Cost of A Tool)/Tool Life)) to evaluate the Machining And Operating Cost of Each Product, The Machining Cost given Tool Changing Cost per Tool is the capital that must be invested for machining and operating processes to be afforded on a single product when Tool Changing Cost per Tool is known. Machining And Operating Cost of Each Product is denoted by C_m symbol.

How to evaluate Machining Cost given Tool Changing Cost per Tool using this online evaluator? To use this online evaluator for Machining Cost given Tool Changing Cost per Tool, enter Machining Time (t_m), Machining And Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q), Cost of Changing Each Tool (C_ct), Cost of A Tool (C_t) & Tool Life (T) and hit the calculate button.

FAQs on Machining Cost given Tool Changing Cost per Tool

What is the formula to find Machining Cost given Tool Changing Cost per Tool?

The formula of Machining Cost given Tool Changing Cost per Tool is expressed as Machining And Operating Cost of Each Product = Machining Time*(Machining And Operating Rate+(Time Proportion of Cutting Edge Engagement*(Cost of Changing Each Tool+Cost of A Tool)/Tool Life)). Here is an example- 4650.5 = 30*(101+(0.5*(7575+478575)/4500)).

How to calculate Machining Cost given Tool Changing Cost per Tool?

With Machining Time (t_m), Machining And Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q), Cost of Changing Each Tool (C_ct), Cost of A Tool (C_t) & Tool Life (T) we can find Machining Cost given Tool Changing Cost per Tool using the formula - Machining And Operating Cost of Each Product = Machining Time*(Machining And Operating Rate+(Time Proportion of Cutting Edge Engagement*(Cost of Changing Each Tool+Cost of A Tool)/Tool Life)).

What are the other ways to Calculate Machining And Operating Cost of Each Product?

Here are the different ways to Calculate Machining And Operating Cost of Each Product-

Machining And Operating Cost of Each Product=Machining Time*(Machining And Operating Rate+(Time Proportion of Cutting Edge Engagement*(Machining And Operating Rate*Time to Change One Tool+Cost of A Tool)/Tool Life))
Machining And Operating Cost of Each Product=Machining And Operating Rate*Machining Time For Minimum Cost/(1-Taylor's Tool Life Exponent)

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Machining Cost given Tool Changing Cost per Tool Formula

​GoMachining Cost per component Formula

​GoMinimum Cost of Machining per component Formula

Machining Cost given Tool Changing Cost per Tool Example

Machining Cost given Tool Changing Cost per Tool Solution

Machining Cost given Tool Changing Cost per Tool Formula Elements

Other Formulas to find Machining And Operating Cost of Each Product

Other formulas in Tool Cost category

How to Evaluate Machining Cost given Tool Changing Cost per Tool?

FAQs on Machining Cost given Tool Changing Cost per Tool

Variable Name

GoMachining Cost per component Formula

GoMinimum Cost of Machining per component Formula