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Material Cost Ratio Formula

GoRelative Material Cost Ratio Formula

GoRelative Cost given Yield Stress Formula

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Relative Cost is the cost of a good or service in relation to the prices of other goods and services. Check FAQs

C2 /C1 = (\frac{A 2}{A 1}) \cdot (\frac{P 2}{P 1})

C2_/C1 - Relative Cost?A₂ - Cross-Sectional Area of Material 2?A₁ - Cross-Sectional Area of Material 1?P₂ - Material Cost p2?P₁ - Material Cost p1?

Material Cost Ratio Example

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Here is how the Material Cost Ratio equation looks like with Values.

Here is how the Material Cost Ratio equation looks like with Units.

Here is how the Material Cost Ratio equation looks like.

1.1538 = (\frac{720000}{600000}) \cdot (\frac{25}{26})

1.1538 = (\frac{720000mm²}{600000mm²}) \cdot (\frac{25}{26})

1.1538 = (\frac{720000}{600000}) \cdot (\frac{25}{26})

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Material Cost Ratio Solution

Follow our step by step solution on how to calculate Material Cost Ratio?

FIRST Step Consider the formula

C2 /C1 = (\frac{A 2}{A 1}) \cdot (\frac{P 2}{P 1})

Next Step Substitute values of Variables

∴

C2 /C1 = (\frac{720000mm²}{600000mm²}) \cdot (\frac{25}{26})

Next Step Convert Units

∴

C2 /C1 = (\frac{0.72m²}{0.6m²}) \cdot (\frac{25}{26})

Next Step Prepare to Evaluate

∴

C2 /C1 = (\frac{0.72}{0.6}) \cdot (\frac{25}{26})

Next Step Evaluate

∴

C2 /C1 = 1.15384615384615

LAST Step Rounding Answer

∴

C2 /C1 = 1.1538

Material Cost Ratio Formula Elements

Variables

Relative Cost

Relative Cost is the cost of a good or service in relation to the prices of other goods and services.

Symbol: C2_/C1

Measurement: NAUnit: Unitless

Note: Value can be positive or negative.

Formulas to find Relative Cost

Cross-Sectional Area of Material 2

The Cross-Sectional Area of Material 2 is the area of cross section of a material say steel member.

Symbol: A₂

Measurement: AreaUnit: mm²

Note: Value should be greater than 0.

Formulas to find Cross-Sectional Area of Material 2

Cross-Sectional Area of Material 1

The Cross-Sectional area of Material 1 is the area of cross section of a material say steel member.

Symbol: A₁

Measurement: AreaUnit: mm²

Note: Value should be greater than 0.

Formulas to find Cross-Sectional Area of Material 1

Material Cost p2

Material Cost p2 is the material price per unit weight. It is the cost of materials used to manufacture a product or provide a service.

Symbol: P₂

Measurement: NAUnit: Unitless

Note: Value can be positive or negative.

Formulas to find Material Cost p2

Material Cost p1

Material Cost p1 is the material price per unit weight. It is the cost of materials used to manufacture a product or provide a service.

Symbol: P₁

Measurement: NAUnit: Unitless

Note: Value can be positive or negative.

Formulas to find Material Cost p1

Other Formulas to find Relative Cost

Go Relative Material Cost Ratio

C2 /C1 = (\frac{F y1}{F y2}) \cdot (\frac{P 2}{P 1})

Go Relative Cost given Yield Stress

C2 /C1 = (\frac{P 2}{P 1}) \cdot {(\frac{F y1}{F y2})}^{\frac{2}{3}}

Go Relative Cost for Designing Fabricated Plate Girders

C2 /C1 = (\frac{P 2}{P 1}) \cdot {(\frac{F y1}{F y2})}^{\frac{1}{2}}

Other formulas in Economical Structural Steel category

Go Cross-Sectional Area1 given Material Cost Ratio

A 1 = \frac{A 2 \cdot P 2}{C2 /C1 \cdot P 1}

Go Cross-Sectional Area2 given Material Cost Ratio

A 2 = \frac{C2 /C1 \cdot A 1 \cdot P 1}{P 2}

Go Material Price p1 given Material Cost Ratio

P 1 = \frac{A 2 \cdot P 2}{C2 /C1 \cdot A 1}

Go Material Price p2 given Material Cost Ratio

P 2 = \frac{C2 /C1 \cdot P 1 \cdot A 1}{A 2}

How to Evaluate Material Cost Ratio?

Material Cost Ratio evaluator uses Relative Cost = (Cross-Sectional Area of Material 2/Cross-Sectional Area of Material 1)*(Material Cost p2/Material Cost p1) to evaluate the Relative Cost, The Material Cost Ratio formula is defined as the relative cost based on cross-sectional areas and prices of material. Relative Cost is denoted by C2_/C1 symbol.

How to evaluate Material Cost Ratio using this online evaluator? To use this online evaluator for Material Cost Ratio, enter Cross-Sectional Area of Material 2 (A₂), Cross-Sectional Area of Material 1 (A₁), Material Cost p2 (P₂) & Material Cost p1 (P₁) and hit the calculate button.

FAQs on Material Cost Ratio

What is the formula to find Material Cost Ratio?

The formula of Material Cost Ratio is expressed as Relative Cost = (Cross-Sectional Area of Material 2/Cross-Sectional Area of Material 1)*(Material Cost p2/Material Cost p1). Here is an example- 1.153846 = (0.72/0.6)*(25/26).

How to calculate Material Cost Ratio?

With Cross-Sectional Area of Material 2 (A₂), Cross-Sectional Area of Material 1 (A₁), Material Cost p2 (P₂) & Material Cost p1 (P₁) we can find Material Cost Ratio using the formula - Relative Cost = (Cross-Sectional Area of Material 2/Cross-Sectional Area of Material 1)*(Material Cost p2/Material Cost p1).

What are the other ways to Calculate Relative Cost?

Here are the different ways to Calculate Relative Cost-

Relative Cost=(Yield Stress 1/Yield Stress 2)*(Material Cost p2/Material Cost p1)
Relative Cost=(Material Cost p2/Material Cost p1)*(Yield Stress 1/Yield Stress 2)^(2/3)
Relative Cost=(Material Cost p2/Material Cost p1)*(Yield Stress 1/Yield Stress 2)^(1/2)

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Material Cost Ratio Formula

​GoRelative Material Cost Ratio Formula

​GoRelative Cost given Yield Stress Formula

Material Cost Ratio Example

Material Cost Ratio Solution

Material Cost Ratio Formula Elements

Other Formulas to find Relative Cost

Other formulas in Economical Structural Steel category

How to Evaluate Material Cost Ratio?

FAQs on Material Cost Ratio

Variable Name

GoRelative Material Cost Ratio Formula

GoRelative Cost given Yield Stress Formula