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Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Formula

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The cost of changing each Tool is the cost that arises due to the time taken by the operator to change one tool when he is paid by the hour. Check FAQs

C ct = (T \cdot n \cdot \frac{R}{t q \cdot (1 - n)}) - C

C_ct - Cost of Changing Each Tool?T - Tool Life?n - Taylor's Tool Life Exponent?R - Machining and Operating Rate?t_q - Time Proportion?C - Cost of a Tool?

Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Example

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Here is how the Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost equation looks like with Values.

Here is how the Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost equation looks like with Units.

Here is how the Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost equation looks like.

5900 = (3000 \cdot 0.125 \cdot \frac{7}{0.5 \cdot (1 - 0.125)}) - 100

5900 = (3000s \cdot 0.125 \cdot \frac{7}{0.5s \cdot (1 - 0.125)}) - 100

5900 = (3000 \cdot 0.125 \cdot \frac{7}{0.5 \cdot (1 - 0.125)}) - 100

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Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Solution

Follow our step by step solution on how to calculate Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost?

FIRST Step Consider the formula

C ct = (T \cdot n \cdot \frac{R}{t q \cdot (1 - n)}) - C

Next Step Substitute values of Variables

∴

C ct = (3000s \cdot 0.125 \cdot \frac{7}{0.5s \cdot (1 - 0.125)}) - 100

Next Step Prepare to Evaluate

∴

C ct = (3000 \cdot 0.125 \cdot \frac{7}{0.5 \cdot (1 - 0.125)}) - 100

LAST Step Evaluate

∴

C ct = 5900

Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Formula Elements

Variables

Cost of Changing Each Tool

The cost of changing each Tool is the cost that arises due to the time taken by the operator to change one tool when he is paid by the hour.

Symbol: C_ct

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Cost of Changing Each Tool

Tool Life

Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.

Symbol: T

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Tool Life

Taylor's Tool Life Exponent

Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.

Symbol: n

Measurement: NAUnit: Unitless

Note: Value should be less than 1.

Formulas to find Taylor's Tool Life Exponent

Machining and Operating Rate

Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.

Symbol: R

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Machining and Operating Rate

Time Proportion

Time Proportion the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.

Symbol: t_q

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Time Proportion

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

Other formulas in Minimum Machining Cost category

Go Minimum Production Cost per Component

C p = R \cdot (t s + (K \cdot \frac{{(\frac{T}{L})}^{n}}{V \cdot (1 - n)}))

Go Machining and Operating Rate given Minimum Production Cost

R = \frac{C p}{t s + (K \cdot \frac{{(\frac{T}{L})}^{n}}{V \cdot (1 - n)})}

Go Non-Productive Time per component given Minimum Production Cost

t s = \frac{C p}{R} - (K \cdot \frac{{(\frac{T}{L})}^{n}}{V \cdot (1 - n)})

Go Constant for Machining Operation given Minimum Production Cost

K = (\frac{C p}{R} - t s) \cdot V \cdot \frac{1 - n}{{(\frac{T}{L})}^{n}}

How to Evaluate Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost?

Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost evaluator uses Cost of Changing Each Tool = (Tool Life*Taylor's Tool Life Exponent*Machining and Operating Rate/(Time Proportion*(1-Taylor's Tool Life Exponent)))-Cost of a Tool to evaluate the Cost of Changing Each Tool, The Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost is a way to determine the cost that arises due to the time taken by the operator in changing 1 Cutting Tool when he is paid by the hour, based on the Minimum Machining Cost when Tool Life of Cutting Tool is known. Cost of Changing Each Tool is denoted by C_ct symbol.

How to evaluate Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost using this online evaluator? To use this online evaluator for Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost, enter Tool Life (T), Taylor's Tool Life Exponent (n), Machining and Operating Rate (R), Time Proportion (t_q) & Cost of a Tool (C) and hit the calculate button.

FAQs on Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost

What is the formula to find Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost?

The formula of Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost is expressed as Cost of Changing Each Tool = (Tool Life*Taylor's Tool Life Exponent*Machining and Operating Rate/(Time Proportion*(1-Taylor's Tool Life Exponent)))-Cost of a Tool. Here is an example- 5900 = (3000*0.125*7/(0.5*(1-0.125)))-100.

How to calculate Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost?

With Tool Life (T), Taylor's Tool Life Exponent (n), Machining and Operating Rate (R), Time Proportion (t_q) & Cost of a Tool (C) we can find Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost using the formula - Cost of Changing Each Tool = (Tool Life*Taylor's Tool Life Exponent*Machining and Operating Rate/(Time Proportion*(1-Taylor's Tool Life Exponent)))-Cost of a Tool.

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Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Formula

Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Example

Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Solution

Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Formula Elements

Other formulas in Minimum Machining Cost category

How to Evaluate Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost?

FAQs on Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost

Variable Name