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Number of Tools used given Average Production Cost Formula

GoNumber of Tools used given Average Production Time Formula

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The Number of Tools Used is the total number of tools used for manufacturing a batch of products. Check FAQs

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

N_t - Number of Tools Used?N_b - Batch Size?C_pr - Production Cost of Each Component?C_t - Cost of a Tool?t_s - Setup Time?t_m - Machining Time?t_c - Time to Change One Tool?

Number of Tools used given Average Production Cost Example

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Here is how the Number of Tools used given Average Production Cost equation looks like with Values.

Here is how the Number of Tools used given Average Production Cost equation looks like with Units.

Here is how the Number of Tools used given Average Production Cost equation looks like.

3 = 2 \cdot \frac{11400 - 80 \cdot (0.45 + 1.15)}{80 \cdot 0.5 + 80}

3 = 2 \cdot \frac{11400 - 80 \cdot (0.45min + 1.15min)}{80 \cdot 0.5min + 80}

3 = 2 \cdot \frac{11400 - 80 \cdot (0.45 + 1.15)}{80 \cdot 0.5 + 80}

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Number of Tools used given Average Production Cost Solution

Follow our step by step solution on how to calculate Number of Tools used given Average Production Cost?

FIRST Step Consider the formula

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

Next Step Substitute values of Variables

∴

N t = 2 \cdot \frac{11400 - 80 \cdot (0.45min + 1.15min)}{80 \cdot 0.5min + 80}

Next Step Convert Units

∴

N t = 2 \cdot \frac{11400 - 80 \cdot (27s + 69s)}{80 \cdot 30s + 80}

Next Step Prepare to Evaluate

∴

N t = 2 \cdot \frac{11400 - 80 \cdot (27 + 69)}{80 \cdot 30 + 80}

LAST Step Evaluate

∴

N t = 3

Number of Tools used given Average Production Cost Formula Elements

Variables

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

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

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

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

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

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: min

Note: Value should be greater than 0.

Formulas to find Time to Change One Tool

Other Formulas to find Number of Tools Used

Go Number of Tools used given Average Production Time

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

Other formulas in Average Production Cost category

Go Total Non-Productive Time using Average Production Cost

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

Go Setup Time for Each Product given Average Production Cost

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

How to Evaluate Number of Tools used given Average Production Cost?

Number of Tools used given Average Production Cost evaluator uses Number of Tools Used = Batch Size*(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time))/(Cost of a Tool*Time to Change One Tool+Cost of a Tool) to evaluate the Number of Tools Used, The Number of Tools used given Average Production Cost is a method to determine the maximum number of Tools that can be used for producing a single component when the total amount available for production is known. This calculation helps in understanding the tooling requirements and their impact on the overall production cost. Effective management of tooling costs is essential for optimizing production efficiency and maintaining profitability in manufacturing operations. Number of Tools Used is denoted by N_t symbol.

How to evaluate Number of Tools used given Average Production Cost using this online evaluator? To use this online evaluator for Number of Tools used given Average Production Cost, enter Batch Size (N_b), Production Cost of Each Component (C_pr), Cost of a Tool (C_t), Setup Time (t_s), Machining Time (t_m) & Time to Change One Tool (t_c) and hit the calculate button.

FAQs on Number of Tools used given Average Production Cost

What is the formula to find Number of Tools used given Average Production Cost?

The formula of Number of Tools used given Average Production Cost is expressed as Number of Tools Used = Batch Size*(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time))/(Cost of a Tool*Time to Change One Tool+Cost of a Tool). Here is an example- 3 = 2*(11400-80*(27+69))/(80*30+80).

How to calculate Number of Tools used given Average Production Cost?

With Batch Size (N_b), Production Cost of Each Component (C_pr), Cost of a Tool (C_t), Setup Time (t_s), Machining Time (t_m) & Time to Change One Tool (t_c) we can find Number of Tools used given Average Production Cost using the formula - Number of Tools Used = Batch Size*(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time))/(Cost of a Tool*Time to Change One Tool+Cost of a Tool).

What are the other ways to Calculate Number of Tools Used?

Here are the different ways to Calculate Number of Tools Used-

Number of Tools Used=Batch Size*(Average Production Time-(Setup Time+Machining Time))/Time to Change One Tool

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Number of Tools used given Average Production Cost Formula

​GoNumber of Tools used given Average Production Time Formula

Number of Tools used given Average Production Cost Example

Number of Tools used given Average Production Cost Solution

Number of Tools used given Average Production Cost Formula Elements

Other Formulas to find Number of Tools Used

Other formulas in Average Production Cost category

How to Evaluate Number of Tools used given Average Production Cost?

FAQs on Number of Tools used given Average Production Cost

Variable Name

GoNumber of Tools used given Average Production Time Formula