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Machining and Operating Rate given Total Production Cost Formula

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Machining and operating rate refers to the speed at which material is removed from a workpiece during a machining operation. Check FAQs

R m = \frac{C tp - (N t \cdot C)}{N \cdot (t s + t) + (N t \cdot t ct)}

R_m - Machining and Operating Rate?C_tp - Total Production Cost?N_t - Number of Tools Used?C - Cost of a Tool?N - Batch Size?t_s - Setup Time?t - Machining Time?t_ct - Tool Changing Time?

Machining and Operating Rate given Total Production Cost Example

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Here is how the Machining and Operating Rate given Total Production Cost equation looks like with Values.

Here is how the Machining and Operating Rate given Total Production Cost equation looks like with Units.

Here is how the Machining and Operating Rate given Total Production Cost equation looks like.

93.5849 = \frac{30000 - (3 \cdot 80)}{2 \cdot (54 + 87) + (3 \cdot 12)}

93.5849 = \frac{30000 - (3 \cdot 80)}{2 \cdot (54s + 87s) + (3 \cdot 12s)}

93.5849 = \frac{30000 - (3 \cdot 80)}{2 \cdot (54 + 87) + (3 \cdot 12)}

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Machining and Operating Rate given Total Production Cost Solution

Follow our step by step solution on how to calculate Machining and Operating Rate given Total Production Cost?

FIRST Step Consider the formula

R m = \frac{C tp - (N t \cdot C)}{N \cdot (t s + t) + (N t \cdot t ct)}

Next Step Substitute values of Variables

∴

R m = \frac{30000 - (3 \cdot 80)}{2 \cdot (54s + 87s) + (3 \cdot 12s)}

Next Step Prepare to Evaluate

∴

R m = \frac{30000 - (3 \cdot 80)}{2 \cdot (54 + 87) + (3 \cdot 12)}

Next Step Evaluate

∴

R m = 93.5849056603774

LAST Step Rounding Answer

∴

R m = 93.5849

Machining and Operating Rate given Total Production Cost Formula Elements

Variables

Machining and Operating Rate

Machining and operating rate refers to the speed at which material is removed from a workpiece during a machining operation.

Symbol: R_m

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Total Production Cost

Total Production Cost involves summing up various cost components associated with the machining process.

Symbol: C_tp

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

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.

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.

Batch Size

Batch size refers to the number of identical parts produced in a single production run or cycle.

Symbol: N

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Setup Time

Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.

Symbol: t_s

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Machining Time

Machining time refers to the total time required to complete a specific machining operation on a workpiece.

Symbol: t

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Tool Changing Time

Tool changing time referred to as tool change time, is the duration required to remove a used tool and replace it with a new one.

Symbol: t_ct

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Credits

Creator Image

Created by Kumar Siddhant

Indian Institute of Information Technology, Design and Manufacturing (IIITDM), Jabalpur

Kumar Siddhant has created this Formula and 400+ more formulas!

Verifier Image

Verified by Parul Keshav

National Institute of Technology (NIT), Srinagar

Parul Keshav has verified this Formula and 400+ more formulas!

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)

See More

How to Evaluate Machining and Operating Rate given Total Production Cost?

Machining and Operating Rate given Total Production Cost evaluator uses Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of a Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time)) to evaluate the Machining and Operating Rate, The Machining and Operating Rate given Total Production Cost is a method to determine the maximum expense rate that can be afforded on machines and operators when based on the expenses it took to manufacture a complete batch of components. Machining and Operating Rate is denoted by R_m symbol.

How to evaluate Machining and Operating Rate given Total Production Cost using this online evaluator? To use this online evaluator for Machining and Operating Rate given Total Production Cost, enter Total Production Cost (C_tp), Number of Tools Used (N_t), Cost of a Tool (C), Batch Size (N), Setup Time (t_s), Machining Time (t) & Tool Changing Time (t_ct) and hit the calculate button.

FAQs on Machining and Operating Rate given Total Production Cost

What is the formula to find Machining and Operating Rate given Total Production Cost?

The formula of Machining and Operating Rate given Total Production Cost is expressed as Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of a Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time)). Here is an example- 93.58491 = (30000-(3*80))/(2*(54+87)+(3*12)).

How to calculate Machining and Operating Rate given Total Production Cost?

With Total Production Cost (C_tp), Number of Tools Used (N_t), Cost of a Tool (C), Batch Size (N), Setup Time (t_s), Machining Time (t) & Tool Changing Time (t_ct) we can find Machining and Operating Rate given Total Production Cost using the formula - Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of a Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time)).

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