Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Solution

STEP 0: Pre-Calculation Summary
Formula Used
Cost of changing each Tool = (Tool Life*Taylor's Tool Life Exponent*Machining and Operating Rate/(Time Proportion of Cutting Edge Engagement*(1-Taylor's Tool Life Exponent)))-Cost of a Tool
CCT = (T*n*M/(Q*(1-n)))-Ct
This formula uses 6 Variables
Variables Used
Cost of changing each Tool - The cost of changing each Tool is the cost that arises due to the time taken by the operator to change one tool when he is paid by the hour.
Tool Life - (Measured in Second) - Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.
Taylor's Tool Life Exponent - Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.
Machining and Operating Rate - Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads.
Time Proportion of Cutting Edge Engagement - Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece.
Cost of a Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
STEP 1: Convert Input(s) to Base Unit
Tool Life: 75 Minute --> 4500 Second (Check conversion here)
Taylor's Tool Life Exponent: 0.032362 --> No Conversion Required
Machining and Operating Rate: 101 --> No Conversion Required
Time Proportion of Cutting Edge Engagement: 0.5 --> No Conversion Required
Cost of a Tool: 100 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
CCT = (T*n*M/(Q*(1-n)))-Ct --> (4500*0.032362*101/(0.5*(1-0.032362)))-100
Evaluating ... ...
CCT = 30300.8916557638
STEP 3: Convert Result to Output's Unit
30300.8916557638 --> No Conversion Required
FINAL ANSWER
30300.8916557638 30300.89 <-- Cost of changing each Tool
(Calculation completed in 00.004 seconds)

Credits

Created by Kumar Siddhant
Indian Institute of Information Technology, Design and Manufacturing (IIITDM), Jabalpur
Kumar Siddhant has created this Calculator and 400+ more calculators!
Verified by Parul Keshav
National Institute of Technology (NIT), Srinagar
Parul Keshav has verified this Calculator and 400+ more calculators!

24 Tool and Machining Costs Calculators

Taylor's Exponent for Minimum Machining Cost given Tool Life
Go Taylor's Tool Life Exponent = ((Time to Change One Tool+(Cost of a Tool/Machining and Operating Rate))*Time Proportion of Cutting Edge Engagement)/(Tool Life+((Time to Change One Tool+(Cost of a Tool/Machining and Operating Rate))*Time Proportion of Cutting Edge Engagement))
Machining and Operating Rate given Machining Cost
Go Machining and Operating Rate = ((Machining and Operating Cost of Each Product/Machining Time)-(Time Proportion of Cutting Edge Engagement*Cost of a Tool/Tool Life))/((Time Proportion of Cutting Edge Engagement*Time to Change One Tool/Tool Life)+1)
Tool Changing Time for 1 Tool given Machining Cost
Go Time to Change One Tool = ((Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool)/Machining and Operating Rate
Tool Life of One Tool given Machining Cost
Go Tool Life = Time Proportion of Cutting Edge Engagement*(Machining and Operating Rate*Time to Change One Tool+Cost of a Tool)/((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)
Cost of 1 Tool given Machining Cost
Go Cost of a Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-(Machining and Operating Rate*Time to Change One Tool)
Time Proportion of Cutting Edge Engagement given Machining Cost
Go Time Proportion of Cutting Edge Engagement = Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/(Machining and Operating Rate*Time to Change One Tool+Cost of a Tool)
Machining Time per component given Machining Cost
Go Machining Time = Machining and Operating Cost of Each Product/(Machining and Operating Rate+(Time Proportion of Cutting Edge Engagement*(Machining and Operating Rate*Time to Change One Tool+Cost of a Tool)/Tool Life))
Machining Cost per component
Go Machining and Operating Cost of Each Product = Machining Time*(Machining and Operating Rate+(Time Proportion of Cutting Edge Engagement*(Machining and Operating Rate*Time to Change One Tool+Cost of a Tool)/Tool Life))
Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost
Go Cost of changing each Tool = (Tool Life*Taylor's Tool Life Exponent*Machining and Operating Rate/(Time Proportion of Cutting Edge Engagement*(1-Taylor's Tool Life Exponent)))-Cost of a Tool
Tool Changing Cost per Tool given Machining Cost
Go Cost of changing each Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool
Machining Cost given Tool Changing Cost per Tool
Go Machining and Operating Cost of Each Product = Machining Time*(Machining and Operating Rate+(Time Proportion of Cutting Edge Engagement*(Cost of changing each Tool+Cost of a Tool)/Tool Life))
Tool Life of One Tool for Minimum Machining Cost given Tool Changing Cost per Tool
Go Tool Life = Time Proportion of Cutting Edge Engagement*(Cost of changing each Tool+Cost of a Tool)*(1-Taylor's Tool Life Exponent)/(Taylor's Tool Life Exponent*Machining and Operating Rate)
Time Proportion of Cutting Edge Engagement given Tool Life for Minimum Machining Cost
Go Time Proportion of Cutting Edge Engagement = Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*(Time to Change One Tool+(Cost of a Tool/Machining and Operating Rate)))
Tool Changing Time for 1 Tool given Tool Life for Minimum Machining Cost
Go Time to Change One Tool = (Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*Time Proportion of Cutting Edge Engagement))-(Cost of a Tool/Machining and Operating Rate)
Machining and Operating Rate given Tool Life for Minimum Machining Cost
Go Machining and Operating Rate = Cost of a Tool/((Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*Time Proportion of Cutting Edge Engagement))-Time to Change One Tool)
Cost of 1 Tool given Tool Life for Minimum Machining Cost
Go Cost of a Tool = ((Tool Life*Taylor's Tool Life Exponent/((1-Taylor's Tool Life Exponent)*Time Proportion of Cutting Edge Engagement))-Time to Change One Tool)*Machining and Operating Rate
Tool Life of One Tool for Minimum Machining Cost
Go Tool Life = Time Proportion of Cutting Edge Engagement*(Time to Change One Tool+(Cost of a Tool/Machining and Operating Rate))*(1-Taylor's Tool Life Exponent)/Taylor's Tool Life Exponent
Taylor's Exponent for Minimum Machining Cost per component
Go Taylor's Tool Life Exponent = 1-(Machining Time for Minimum Cost*Machining and Operating Rate/Machining and Operating Cost of Each Product)
Machining and Operating Rate for Minimum Machining Cost
Go Machining and Operating Rate = Machining and Operating Cost of Each Product*(1-Taylor's Tool Life Exponent)/Machining Time for Minimum Cost
Machining Time per component for Minimum Machining Cost
Go Machining Time for Minimum Cost = Machining and Operating Cost of Each Product*(1-Taylor's Tool Life Exponent)/Machining and Operating Rate
Minimum Cost of Machining per component
Go Machining and Operating Cost of Each Product = Machining and Operating Rate*Machining Time for Minimum Cost/(1-Taylor's Tool Life Exponent)
Cutting Velocity of one product given Constant for Machining Operation
Go Cutting Velocity = Constant For Machining Condition/Machining Time
Constant for Machining Operation of one product given Machining Condition
Go Constant For Machining Condition = Machining Time*Cutting Velocity
Machining Time of one product given Constant for Machining Operation
Go Machining Time = Constant For Machining Condition/Cutting Velocity

Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost Formula

Cost of changing each Tool = (Tool Life*Taylor's Tool Life Exponent*Machining and Operating Rate/(Time Proportion of Cutting Edge Engagement*(1-Taylor's Tool Life Exponent)))-Cost of a Tool
CCT = (T*n*M/(Q*(1-n)))-Ct

How is Tool-Changing Cost generated?

The tool-changing cost is generated on the processes that basically include changing or re-sharpening the tool. These do not result in any productivity or profit whatsoever. But as the time is consumed by the operator to perform these tasks, when paid by the hour, the operators cost plants this time too.

How to Calculate Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost?

Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost calculator uses Cost of changing each Tool = (Tool Life*Taylor's Tool Life Exponent*Machining and Operating Rate/(Time Proportion of Cutting Edge Engagement*(1-Taylor's Tool Life Exponent)))-Cost of a Tool to calculate the Cost of changing each Tool, The Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost is a way to determine the cost that arises due to the time taken by the operator in changing 1 Cutting Tool when he is paid by the hour, based on the Minimum Machining Cost when Tool Life of Cutting Tool is known. Cost of changing each Tool is denoted by CCT symbol.

How to calculate Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost using this online calculator? To use this online calculator for Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost, enter Tool Life (T), Taylor's Tool Life Exponent (n), Machining and Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Cost of a Tool (Ct) and hit the calculate button. Here is how the Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost calculation can be explained with given input values -> 30300.89 = (4500*0.032362*101/(0.5*(1-0.032362)))-100 .

FAQ

What is Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost?
The Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost is a way to determine the cost that arises due to the time taken by the operator in changing 1 Cutting Tool when he is paid by the hour, based on the Minimum Machining Cost when Tool Life of Cutting Tool is known and is represented as CCT = (T*n*M/(Q*(1-n)))-Ct or Cost of changing each Tool = (Tool Life*Taylor's Tool Life Exponent*Machining and Operating Rate/(Time Proportion of Cutting Edge Engagement*(1-Taylor's Tool Life Exponent)))-Cost of a Tool. Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations, Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear, Machining and Operating Rate is the money charged for processing on and operating machines per unit time, including overheads, Time Proportion of Cutting Edge Engagement is the fractional portion of machining time during which the Cutting Edge of the tool is engaged with the workpiece & The Cost of a Tool is simply the cost of one tool being used for machining.
How to calculate Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost?
The Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost is a way to determine the cost that arises due to the time taken by the operator in changing 1 Cutting Tool when he is paid by the hour, based on the Minimum Machining Cost when Tool Life of Cutting Tool is known is calculated using Cost of changing each Tool = (Tool Life*Taylor's Tool Life Exponent*Machining and Operating Rate/(Time Proportion of Cutting Edge Engagement*(1-Taylor's Tool Life Exponent)))-Cost of a Tool. To calculate Tool Changing Cost per Tool given Tool Life for Minimum Machining Cost, you need Tool Life (T), Taylor's Tool Life Exponent (n), Machining and Operating Rate (M), Time Proportion of Cutting Edge Engagement (Q) & Cost of a Tool (Ct). With our tool, you need to enter the respective value for Tool Life, Taylor's Tool Life Exponent, Machining and Operating Rate, Time Proportion of Cutting Edge Engagement & Cost of a Tool and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.
How many ways are there to calculate Cost of changing each Tool?
In this formula, Cost of changing each Tool uses Tool Life, Taylor's Tool Life Exponent, Machining and Operating Rate, Time Proportion of Cutting Edge Engagement & Cost of a Tool. We can use 1 other way(s) to calculate the same, which is/are as follows -
  • Cost of changing each Tool = (Tool Life*((Machining and Operating Cost of Each Product/Machining Time)-Machining and Operating Rate)/Time Proportion of Cutting Edge Engagement)-Cost of a Tool
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