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Total Minimum Cost Formula

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Total Minimum Cost is the minimum amount of money required to execute an entire system of machinery. Check FAQs

TMC = (\frac{C min}{{((\frac{TC}{MC} + t charge) \cdot (\frac{1}{NOR} - 1))}^{NOR}})

TMC - Total Minimum Cost?C_min - Minimum Cost?TC - Tool Cost?MC - Machine Cost?t_charge - Tool Changing Time?NOR - Number of Rotation?

Total Minimum Cost Example

With values

With units

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Here is how the Total Minimum Cost equation looks like with Values.

Here is how the Total Minimum Cost equation looks like with Units.

Here is how the Total Minimum Cost equation looks like.

-811.1756 = (\frac{1223}{{((\frac{200}{10000} + 1.7) \cdot (\frac{1}{3} - 1))}^{3}})

-811.1756 = (\frac{1223}{{((\frac{200}{10000} + 1.7s) \cdot (\frac{1}{3} - 1))}^{3}})

-811.1756 = (\frac{1223}{{((\frac{200}{10000} + 1.7) \cdot (\frac{1}{3} - 1))}^{3}})

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Total Minimum Cost Solution

Follow our step by step solution on how to calculate Total Minimum Cost?

FIRST Step Consider the formula

TMC = (\frac{C min}{{((\frac{TC}{MC} + t charge) \cdot (\frac{1}{NOR} - 1))}^{NOR}})

Next Step Substitute values of Variables

∴

TMC = (\frac{1223}{{((\frac{200}{10000} + 1.7s) \cdot (\frac{1}{3} - 1))}^{3}})

Next Step Prepare to Evaluate

∴

TMC = (\frac{1223}{{((\frac{200}{10000} + 1.7) \cdot (\frac{1}{3} - 1))}^{3}})

Next Step Evaluate

∴

TMC = -811.175627617694

LAST Step Rounding Answer

∴

TMC = -811.1756

Total Minimum Cost Formula Elements

Variables

Total Minimum Cost

Total Minimum Cost is the minimum amount of money required to execute an entire system of machinery.

Symbol: TMC

Measurement: NAUnit: Unitless

Note: Value can be positive or negative.

Formulas to find Total Minimum Cost

Open Variable

Minimum Cost

Minimum Cost indicates the price associated with the making of the product.

Symbol: C_min

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Minimum Cost

Open Variable

Tool Cost

Tool Cost is the amount of money spend on the purchase, maintenance and changing of tools.

Symbol: TC

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Tool Cost

Open Variable

Machine Cost

Machine Cost is the amount of money spent on the purchase and maintenance of machinery.

Symbol: MC

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Machine Cost

Open Variable

Tool Changing Time

Tool Changing Time is the average time required by the operator or automation system (such as automatic tool changer – ATC) to change the tool.

Symbol: t_charge

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Tool Changing Time

Open Variable

Number of Rotation

Number of Rotation refers to the number of times the machine rotated about a fixed point.

Symbol: NOR

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Number of Rotation

Open Variable

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How to Evaluate Total Minimum Cost?

Total Minimum Cost evaluator uses Total Minimum Cost = (Minimum Cost/((Tool Cost/Machine Cost+Tool Changing Time)*(1/Number of Rotation-1))^Number of Rotation) to evaluate the Total Minimum Cost, Total Minimum Cost is the minimum amount of money required to execute entire machinery system. Total Minimum Cost is denoted by TMC symbol.

How to evaluate Total Minimum Cost using this online evaluator? To use this online evaluator for Total Minimum Cost, enter Minimum Cost (C_min), Tool Cost (TC), Machine Cost (MC), Tool Changing Time (t_charge) & Number of Rotation (NOR) and hit the calculate button.

FAQs on Total Minimum Cost

What is the formula to find Total Minimum Cost?

The formula of Total Minimum Cost is expressed as Total Minimum Cost = (Minimum Cost/((Tool Cost/Machine Cost+Tool Changing Time)*(1/Number of Rotation-1))^Number of Rotation). Here is an example- -811.175628 = (1223/((200/10000+1.7)*(1/3-1))^3).

How to calculate Total Minimum Cost?

With Minimum Cost (C_min), Tool Cost (TC), Machine Cost (MC), Tool Changing Time (t_charge) & Number of Rotation (NOR) we can find Total Minimum Cost using the formula - Total Minimum Cost = (Minimum Cost/((Tool Cost/Machine Cost+Tool Changing Time)*(1/Number of Rotation-1))^Number of Rotation).

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