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Average Production Time is the time taken to produce a single component out of a lot of produced batches. Check FAQs
tp=S-CprMPR
tp - Average Production Time?S - Amount Received For Each Component?Cpr - Production Cost of Each Component?MPR - Maximum Profit Rate?

Production Time per component given Profit Rate Example

With values
With units
Only example

Here is how the Production Time per component given Profit Rate equation looks like with Values.

Here is how the Production Time per component given Profit Rate equation looks like with Units.

Here is how the Production Time per component given Profit Rate equation looks like.

10.1Edit=20000Edit-15000Edit8.2508Edit
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HomeIcon Home » Category Engineering » Category Production Engineering » Category Metal Machining » fx Production Time per component given Profit Rate

Production Time per component given Profit Rate Solution

Follow our step by step solution on how to calculate Production Time per component given Profit Rate?

FIRST Step Consider the formula
tp=S-CprMPR
Next Step Substitute values of Variables
∴ tp=20000-150008.2508
Next Step Prepare to Evaluate
∴ tp=20000-150008.2508
Next Step Evaluate
∴tp=606.00037329623s
Next Step Convert to Output's Unit
∴tp=10.1000062216038min
LAST Step Rounding Answer
∴tp=10.1min

Production Time per component given Profit Rate Formula Elements

Variables
Average Production Time
Average Production Time is the time taken to produce a single component out of a lot of produced batches.
Symbol: tp
Measurement: TimeUnit: min
Note: Value should be greater than 0.
Formulas to find Average Production TimeOpen Variable
Amount Received For Each Component
Amount Received For Each Component is the amount of money the machine shop receives for machining each component.
Symbol: S
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Amount Received For Each ComponentOpen Variable
Production Cost of Each Component
Production Cost of Each Component is the total amount that it takes to produce a single component from scratch.
Symbol: Cpr
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Production Cost of Each ComponentOpen Variable
Maximum Profit Rate
Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.
Symbol: MPR
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Maximum Profit RateOpen Variable

Other Formulas to find Average Production Time

​Go Production Time per component given Profit
tp=PMPR

Other formulas in Maximum Efficiency category

​Go Cost of Production given Profit per Component
Cpr=S-P
​Go Amount Received by Machine Shop given Profit per Component
S=P+Cpr
​Go Profit per component produced
P=S-Cpr
​Go Rate of Profit
MPR=S-Cprtp

How to Evaluate Production Time per component given Profit Rate?

Production Time per component given Profit Rate evaluator uses Average Production Time = (Amount Received For Each Component-Production Cost of Each Component)/Maximum Profit Rate to evaluate the Average Production Time, The Production Time per component given Profit Rate is a method to determine the maximum time that can be given for the production of a component for a required profit in unit time is given. Average Production Time is denoted by tp symbol.

How to evaluate Production Time per component given Profit Rate using this online evaluator? To use this online evaluator for Production Time per component given Profit Rate, enter Amount Received For Each Component (S), Production Cost of Each Component (Cpr) & Maximum Profit Rate (MPR) and hit the calculate button.

FAQs on Production Time per component given Profit Rate

What is the formula to find Production Time per component given Profit Rate?
The formula of Production Time per component given Profit Rate is expressed as Average Production Time = (Amount Received For Each Component-Production Cost of Each Component)/Maximum Profit Rate. Here is an example- 0.301932 = (20000-15000)/8.25082.
How to calculate Production Time per component given Profit Rate?
With Amount Received For Each Component (S), Production Cost of Each Component (Cpr) & Maximum Profit Rate (MPR) we can find Production Time per component given Profit Rate using the formula - Average Production Time = (Amount Received For Each Component-Production Cost of Each Component)/Maximum Profit Rate.
What are the other ways to Calculate Average Production Time?
Here are the different ways to Calculate Average Production Time-
  • Average Production Time=Profit Per Component/Maximum Profit RateOpenImg
Can the Production Time per component given Profit Rate be negative?
No, the Production Time per component given Profit Rate, measured in Time cannot be negative.
Which unit is used to measure Production Time per component given Profit Rate?
Production Time per component given Profit Rate is usually measured using the Minute[min] for Time. Second[min], Millisecond[min], Microsecond[min] are the few other units in which Production Time per component given Profit Rate can be measured.
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