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Machining Time for Each Product given Individual Costs Formula

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

T = \frac{C p - (C np + C t + c)}{C \cdot B}

T - Machining Time?C_p - Total Production Cost?C_np - Total Non Productive Cost?C_t - Total Tool Changing Cost?c - Total Cost of Tools Used?C - Cost of a Tool?B - Batch Size?

Machining Time for Each Product given Individual Costs Example

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Here is how the Machining Time for Each Product given Individual Costs equation looks like with Values.

Here is how the Machining Time for Each Product given Individual Costs equation looks like with Units.

Here is how the Machining Time for Each Product given Individual Costs equation looks like.

1.15 = \frac{30000 - (10 + 75 + 29815)}{43.4783 \cdot 2}

1.15s = \frac{30000 - (10 + 75 + 29815)}{43.4783 \cdot 2}

1.15 = \frac{30000 - (10 + 75 + 29815)}{43.4783 \cdot 2}

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Machining Time for Each Product given Individual Costs Solution

Follow our step by step solution on how to calculate Machining Time for Each Product given Individual Costs?

FIRST Step Consider the formula

T = \frac{C p - (C np + C t + c)}{C \cdot B}

Next Step Substitute values of Variables

∴

T = \frac{30000 - (10 + 75 + 29815)}{43.4783 \cdot 2}

Next Step Prepare to Evaluate

∴

T = \frac{30000 - (10 + 75 + 29815)}{43.4783 \cdot 2}

Next Step Evaluate

∴

T = 1.150000023s

LAST Step Rounding Answer

∴

T = 1.15s

Machining Time for Each Product given Individual Costs Formula Elements

Variables

Machining Time

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

Symbol: T

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Machining Time

Total Production Cost

Total Production Cost involves summing up various cost components associated with the machining process.

Symbol: C_p

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: C_np

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 involves accounting for both the direct and indirect expenses related to the tool change process.

Symbol: C_t

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 refers to the comprehensive expense incurred for all tools required throughout the production process.

Symbol: c

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Total Cost 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

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: B

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Batch Size

Other formulas in Individual Cost category

Go Non-Productive Cost of One Component given Individual Costs

C a = \frac{C p - (C m + C t + c)}{B}

Go Total Non-Productive Cost given Individual Costs

C np = C p - (C m + C t + c)

How to Evaluate Machining Time for Each Product given Individual Costs?

Machining Time for Each Product given Individual Costs evaluator uses Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size) to evaluate the Machining Time, The Machining Time for Each Product given Individual Costs is a method to determine the maximum time that can be given to a single component on one or more machines for production, based on the cost of different activities of production of a batch of components. Machining Time is denoted by T symbol.

How to evaluate Machining Time for Each Product given Individual Costs using this online evaluator? To use this online evaluator for Machining Time for Each Product given Individual Costs, enter Total Production Cost (C_p), Total Non Productive Cost (C_np), Total Tool Changing Cost (C_t), Total Cost of Tools Used (c), Cost of a Tool (C) & Batch Size (B) and hit the calculate button.

FAQs on Machining Time for Each Product given Individual Costs

What is the formula to find Machining Time for Each Product given Individual Costs?

The formula of Machining Time for Each Product given Individual Costs is expressed as Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size). Here is an example- 0.003977 = (30000-(10+75+29815))/(43.47826*2).

How to calculate Machining Time for Each Product given Individual Costs?

With Total Production Cost (C_p), Total Non Productive Cost (C_np), Total Tool Changing Cost (C_t), Total Cost of Tools Used (c), Cost of a Tool (C) & Batch Size (B) we can find Machining Time for Each Product given Individual Costs using the formula - Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool*Batch Size).

Can the Machining Time for Each Product given Individual Costs be negative?

No, the Machining Time for Each Product given Individual Costs, measured in Time cannot be negative.

Which unit is used to measure Machining Time for Each Product given Individual Costs?

Machining Time for Each Product given Individual Costs is usually measured using the Second[s] for Time. Millisecond[s], Microsecond[s], Nanosecond[s] are the few other units in which Machining Time for Each Product given Individual Costs can be measured.

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Machining Time for Each Product given Individual Costs Formula

Machining Time for Each Product given Individual Costs Example

Machining Time for Each Product given Individual Costs Solution

Machining Time for Each Product given Individual Costs Formula Elements

Other formulas in Individual Cost category

How to Evaluate Machining Time for Each Product given Individual Costs?

FAQs on Machining Time for Each Product given Individual Costs

Variable Name