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Total Tool-Changing Cost Formula

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Tool Changing Cost involves accounting for both the direct and indirect expenses related to the tool change process. Check FAQs

C tc = t tc \cdot N t

C_tc - Tool Changing Cost?t_tc - Total Tool Changing Time?N_t - Number of Tools Used?

Total Tool-Changing Cost Example

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Here is how the Total Tool-Changing Cost equation looks like with Values.

Here is how the Total Tool-Changing Cost equation looks like with Units.

Here is how the Total Tool-Changing Cost equation looks like.

270 = 90 \cdot 3

270 = 90s \cdot 3

270 = 90 \cdot 3

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Total Tool-Changing Cost Solution

Follow our step by step solution on how to calculate Total Tool-Changing Cost?

FIRST Step Consider the formula

C tc = t tc \cdot N t

Next Step Substitute values of Variables

∴

C tc = 90s \cdot 3

Next Step Prepare to Evaluate

∴

C tc = 90 \cdot 3

LAST Step Evaluate

∴

C tc = 270

Total Tool-Changing Cost Formula Elements

Variables

Tool Changing Cost

Tool Changing Cost involves accounting for both the direct and indirect expenses related to the tool change process.

Symbol: C_tc

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Tool Changing Cost

Total Tool Changing Time

Total Tool Changing Time is the cumulative time spent changing tools throughout the machining process.

Symbol: t_tc

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Total Tool Changing 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

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)

Go Total Non-Productive Cost given Total Production Cost

T npc = C tp - (C m + C ct + C t)

Go Non-Productive Cost of Each Component given Total Production Cost

C np = C tp - (N \cdot C \cdot t + N t \cdot ((C \cdot t c) + C))

How to Evaluate Total Tool-Changing Cost?

Total Tool-Changing Cost evaluator uses Tool Changing Cost = Total Tool Changing Time*Number of Tools Used to evaluate the Tool Changing Cost, The Total Tool-Changing Cost is defined as the total cost that arises due to the time taken by the operator in changing the Cutting Tool when he is paid by the hour. Tool Changing Cost is denoted by C_tc symbol.

How to evaluate Total Tool-Changing Cost using this online evaluator? To use this online evaluator for Total Tool-Changing Cost, enter Total Tool Changing Time (t_tc) & Number of Tools Used (N_t) and hit the calculate button.

FAQs on Total Tool-Changing Cost

What is the formula to find Total Tool-Changing Cost?

The formula of Total Tool-Changing Cost is expressed as Tool Changing Cost = Total Tool Changing Time*Number of Tools Used. Here is an example- 270 = 90*3.

How to calculate Total Tool-Changing Cost?

With Total Tool Changing Time (t_tc) & Number of Tools Used (N_t) we can find Total Tool-Changing Cost using the formula - Tool Changing Cost = Total Tool Changing Time*Number of Tools Used.

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Total Tool-Changing Cost Formula

Total Tool-Changing Cost Example

Total Tool-Changing Cost Solution

Total Tool-Changing Cost Formula Elements

Other formulas in Total Production Cost category

How to Evaluate Total Tool-Changing Cost?

FAQs on Total Tool-Changing Cost

Variable Name