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Total Machining Time using Total Production Cost Formula

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Total machining time is the sum of all the time spent performing various machining operations on a workpiece. Check FAQs
tm=Ctp-(Tnpc+Cct+Ct)C
tm - Total Machining Time?Ctp - Total Production Cost?Tnpc - Total Non Productive Cost?Cct - Total Tool Changing Cost?Ct - Total Cost of Tools Used?C - Cost of a Tool?

Total Machining Time using Total Production Cost Example

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With units
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Here is how the Total Machining Time using Total Production Cost equation looks like with Values.

Here is how the Total Machining Time using Total Production Cost equation looks like with Units.

Here is how the Total Machining Time using Total Production Cost equation looks like.

1.25Edit=30000Edit-(22460Edit+7200Edit+240Edit)80Edit
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Total Machining Time using Total Production Cost Solution

Follow our step by step solution on how to calculate Total Machining Time using Total Production Cost?

FIRST Step Consider the formula
tm=Ctp-(Tnpc+Cct+Ct)C
Next Step Substitute values of Variables
∴ tm=30000-(22460+7200+240)80
Next Step Prepare to Evaluate
∴ tm=30000-(22460+7200+240)80
LAST Step Evaluate
∴tm=1.25s

Total Machining Time using Total Production Cost Formula Elements

Variables
Total Machining Time
Total machining time is the sum of all the time spent performing various machining operations on a workpiece.
Symbol: tm
Measurement: TimeUnit: s
Note: Value should be greater than 0.
Formulas to find Total Machining TimeOpen 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 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
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 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
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 ToolOpen Variable

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 Machining Time using Total Production Cost?

Total Machining Time using Total Production Cost evaluator uses Total Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool) to evaluate the Total Machining Time, The Total Machining Time using Total Production Cost is a method to determine the total processing time required by a whole batch of components on one or more machines to produce a final batch of products. Total Machining Time is denoted by tm symbol.

How to evaluate Total Machining Time using Total Production Cost using this online evaluator? To use this online evaluator for Total Machining Time using Total Production Cost, enter Total Production Cost (Ctp), Total Non Productive Cost (Tnpc), Total Tool Changing Cost (Cct), Total Cost of Tools Used (Ct) & Cost of a Tool (C) and hit the calculate button.

FAQs on Total Machining Time using Total Production Cost

What is the formula to find Total Machining Time using Total Production Cost?
The formula of Total Machining Time using Total Production Cost is expressed as Total Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool). Here is an example- 1.25 = (30000-(22460+7200+240))/(80).
How to calculate Total Machining Time using Total Production Cost?
With Total Production Cost (Ctp), Total Non Productive Cost (Tnpc), Total Tool Changing Cost (Cct), Total Cost of Tools Used (Ct) & Cost of a Tool (C) we can find Total Machining Time using Total Production Cost using the formula - Total Machining Time = (Total Production Cost-(Total Non Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of a Tool).
Can the Total Machining Time using Total Production Cost be negative?
No, the Total Machining Time using Total Production Cost, measured in Time cannot be negative.
Which unit is used to measure Total Machining Time using Total Production Cost?
Total Machining Time using 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 Total Machining Time using Total Production Cost can be measured.
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