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Machining Time for Each Product using Total Production Cost 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 tp - C \cdot N \cdot t s - N t \cdot (C \cdot t c + C)}{C \cdot N}

t - Machining Time?C_tp - Total Production Cost?C - Cost of a Tool?N - Batch Size?t_s - Setup Time?N_t - Number of Tools Used?t_c - Time to Change One Tool?

Machining Time for Each Product using Total Production Cost Example

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Here is how the Machining Time for Each Product using Total Production Cost equation looks like with Values.

Here is how the Machining Time for Each Product using Total Production Cost equation looks like with Units.

Here is how the Machining Time for Each Product using Total Production Cost equation looks like.

87 = \frac{30000 - 80 \cdot 2 \cdot 54 - 3 \cdot (80 \cdot 30 + 80)}{80 \cdot 2}

87s = \frac{30000 - 80 \cdot 2 \cdot 54s - 3 \cdot (80 \cdot 30s + 80)}{80 \cdot 2}

87 = \frac{30000 - 80 \cdot 2 \cdot 54 - 3 \cdot (80 \cdot 30 + 80)}{80 \cdot 2}

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Machining Time for Each Product using Total Production Cost Solution

Follow our step by step solution on how to calculate Machining Time for Each Product using Total Production Cost?

FIRST Step Consider the formula

t = \frac{C tp - C \cdot N \cdot t s - N t \cdot (C \cdot t c + C)}{C \cdot N}

Next Step Substitute values of Variables

∴

t = \frac{30000 - 80 \cdot 2 \cdot 54s - 3 \cdot (80 \cdot 30s + 80)}{80 \cdot 2}

Next Step Prepare to Evaluate

∴

t = \frac{30000 - 80 \cdot 2 \cdot 54 - 3 \cdot (80 \cdot 30 + 80)}{80 \cdot 2}

LAST Step Evaluate

∴

t = 87s

Machining Time for Each Product using Total Production Cost 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_tp

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Total Production Cost

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: N

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: s

Note: Value should be greater than 0.

Formulas to find Setup Time

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

Time to Change One Tool

Time to change one tool often referred to as tool change time, includes the duration taken to remove the used tool and install a new one.

Symbol: t_c

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Time to Change One Tool

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)

How to Evaluate Machining Time for Each Product using Total Production Cost?

Machining Time for Each Product using Total Production Cost evaluator uses Machining Time = (Total Production Cost-Cost of a Tool*Batch Size*Setup Time-Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool))/(Cost of a Tool*Batch Size) to evaluate the Machining Time, The Machining Time for Each Product using Total Production Cost 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 total cost of production of a batch. Machining Time is denoted by t symbol.

How to evaluate Machining Time for Each Product using Total Production Cost using this online evaluator? To use this online evaluator for Machining Time for Each Product using Total Production Cost, enter Total Production Cost (C_tp), Cost of a Tool (C), Batch Size (N), Setup Time (t_s), Number of Tools Used (N_t) & Time to Change One Tool (t_c) and hit the calculate button.

FAQs on Machining Time for Each Product using Total Production Cost

What is the formula to find Machining Time for Each Product using Total Production Cost?

The formula of Machining Time for Each Product using Total Production Cost is expressed as Machining Time = (Total Production Cost-Cost of a Tool*Batch Size*Setup Time-Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool))/(Cost of a Tool*Batch Size). Here is an example- 87 = (30000-80*2*54-3*(80*30+80))/(80*2).

How to calculate Machining Time for Each Product using Total Production Cost?

With Total Production Cost (C_tp), Cost of a Tool (C), Batch Size (N), Setup Time (t_s), Number of Tools Used (N_t) & Time to Change One Tool (t_c) we can find Machining Time for Each Product using Total Production Cost using the formula - Machining Time = (Total Production Cost-Cost of a Tool*Batch Size*Setup Time-Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool))/(Cost of a Tool*Batch Size).

Can the Machining Time for Each Product using Total Production Cost be negative?

No, the Machining Time for Each Product using Total Production Cost, measured in Time cannot be negative.

Which unit is used to measure Machining Time for Each Product using Total Production Cost?

Machining Time for Each Product using Total Production Cost 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 using Total Production Cost can be measured.

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Machining Time for Each Product using Total Production Cost Formula

Machining Time for Each Product using Total Production Cost Example

Machining Time for Each Product using Total Production Cost Solution

Machining Time for Each Product using Total Production Cost Formula Elements

Other formulas in Total Production Cost category

How to Evaluate Machining Time for Each Product using Total Production Cost?

FAQs on Machining Time for Each Product using Total Production Cost

Variable Name