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Setup Time for Each Product given Total Production Cost Formula

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Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component. Check FAQs

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

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

Setup Time for Each Product given Total Production Cost Example

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

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

Here is how the Setup Time for Each Product given Total Production Cost equation looks like.

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

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

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

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Setup Time for Each Product given Total Production Cost Solution

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

FIRST Step Consider the formula

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

Next Step Substitute values of Variables

∴

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

Next Step Prepare to Evaluate

∴

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

LAST Step Evaluate

∴

t s = 54s

Setup Time for Each Product given Total Production Cost Formula Elements

Variables

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

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

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

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 Setup Time for Each Product given Total Production Cost?

Setup Time for Each Product given Total Production Cost evaluator uses Setup Time = (Total Production Cost-Cost of a Tool*Batch Size*Machining 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 Setup Time, The Setup Time for Each Product given Total Production Cost is a method to determine the maximum time that can be spent to load/unload the workpiece and reposition the tool for the manufacturing of a single product based on the total production cost. Setup Time is denoted by t_s symbol.

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

FAQs on Setup Time for Each Product given Total Production Cost

What is the formula to find Setup Time for Each Product given Total Production Cost?

The formula of Setup Time for Each Product given Total Production Cost is expressed as Setup Time = (Total Production Cost-Cost of a Tool*Batch Size*Machining 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- 54 = (30000-80*2*87-3*(80*30+80))/(80*2).

How to calculate Setup Time for Each Product given Total Production Cost?

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

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

Which unit is used to measure Setup Time for Each Product given Total Production Cost?

Setup Time for Each Product given 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 Setup Time for Each Product given Total Production Cost can be measured.

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Setup Time for Each Product given Total Production Cost Formula

Setup Time for Each Product given Total Production Cost Example

Setup Time for Each Product given Total Production Cost Solution

Setup Time for Each Product given Total Production Cost Formula Elements

Other formulas in Total Production Cost category

How to Evaluate Setup Time for Each Product given Total Production Cost?

FAQs on Setup Time for Each Product given Total Production Cost

Variable Name