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Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process. Check FAQs
Ct=Ctp-(Cm+Cct+Tnpc)
Ct - Total Cost of Tools Used?Ctp - Total Production Cost?Cm - Total Machining And Operating Cost?Cct - Total Tool Changing Cost?Tnpc - Total Non Productive Cost?

Total Cost of Tools given Total Production Cost Example

With values
With units
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Here is how the Total Cost of Tools given Total Production Cost equation looks like with Values.

Here is how the Total Cost of Tools given Total Production Cost equation looks like with Units.

Here is how the Total Cost of Tools given Total Production Cost equation looks like.

240Edit=30000Edit-(100Edit+7200Edit+22460Edit)
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HomeIcon Home » Category Engineering » Category Production Engineering » Category Metal Machining » fx Total Cost of Tools given Total Production Cost

Total Cost of Tools given Total Production Cost Solution

Follow our step by step solution on how to calculate Total Cost of Tools given Total Production Cost?

FIRST Step Consider the formula
Ct=Ctp-(Cm+Cct+Tnpc)
Next Step Substitute values of Variables
∴ Ct=30000-(100+7200+22460)
Next Step Prepare to Evaluate
∴ Ct=30000-(100+7200+22460)
LAST Step Evaluate
∴Ct=240

Total Cost of Tools given Total Production Cost Formula Elements

Variables
Total Cost of Tools Used
Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.
Symbol: Ct
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Total Cost of Tools UsedOpen Variable
Total Production Cost
Total Production Cost involves summing up various cost components associated with the machining process.
Symbol: Ctp
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Total Production CostOpen Variable
Total Machining And Operating Cost
Total machining and operating cost involves considering various cost factors, including material costs, labor costs, machine operating costs, tool costs, overhead, and additional related expenses.
Symbol: Cm
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Total Machining And Operating CostOpen Variable
Total Tool Changing Cost
Total Tool Changing Cost involves accounting for both the direct and indirect expenses related to the tool change process.
Symbol: Cct
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Total Tool Changing CostOpen Variable
Total Non Productive Cost
Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.
Symbol: Tnpc
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Total Non Productive CostOpen Variable

Other Formulas to find Total Cost of Tools Used

​Go Total Cost of Tools Used
Ct=Nt⋅C

Other formulas in Total Production Cost category

​Go Total Production Cost for given Batch Size
Ctp=N⋅Cp
​Go Total Production Cost
Ctp=N⋅(C⋅(ts+t))+Nt⋅(C⋅tc+C)
​Go Total Non-Productive Cost given Total Production Cost
Tnpc=Ctp-(Cm+Cct+Ct)
​Go Non-Productive Cost of Each Component given Total Production Cost
Cnp=Ctp-(N⋅C⋅t+Nt⋅((C⋅tc)+C))

How to Evaluate Total Cost of Tools given Total Production Cost?

Total Cost of Tools given Total Production Cost evaluator uses Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost) to evaluate the Total Cost of Tools Used, The Total Cost of Tools given Total Production Cost is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components. Total Cost of Tools Used is denoted by Ct symbol.

How to evaluate Total Cost of Tools given Total Production Cost using this online evaluator? To use this online evaluator for Total Cost of Tools given Total Production Cost, enter Total Production Cost (Ctp), Total Machining And Operating Cost (Cm), Total Tool Changing Cost (Cct) & Total Non Productive Cost (Tnpc) and hit the calculate button.

FAQs on Total Cost of Tools given Total Production Cost

What is the formula to find Total Cost of Tools given Total Production Cost?
The formula of Total Cost of Tools given Total Production Cost is expressed as Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost). Here is an example- -6420 = 30000-(100+7200+22460).
How to calculate Total Cost of Tools given Total Production Cost?
With Total Production Cost (Ctp), Total Machining And Operating Cost (Cm), Total Tool Changing Cost (Cct) & Total Non Productive Cost (Tnpc) we can find Total Cost of Tools given Total Production Cost using the formula - Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost).
What are the other ways to Calculate Total Cost of Tools Used?
Here are the different ways to Calculate Total Cost of Tools Used-
  • Total Cost of Tools Used=Number of Tools Used*Cost of a ToolOpenImg
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