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Tool Cost Formula:
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The Tool Cost formula calculates the total cost associated with re-grindable tools, including both the grinding cost and the amortized cost of the tool itself over its usable regrinds.
The calculator uses the Tool Cost formula:
Where:
Explanation: This formula accounts for both the immediate grinding expense and the distributed cost of the tool purchase across its expected number of regrinds.
Details: Accurate tool cost estimation is crucial for manufacturing cost analysis, budgeting, and determining the economic viability of using re-grindable tools versus disposable alternatives.
Tips: Enter the cost of grinding in dollars, the cost of one tool in dollars, and the average number of regrinds possible. All values must be valid (non-negative costs, regrinds ≥ 1).
Q1: Why calculate tool costs for re-grindable tools?
A: This calculation helps determine the true cost per use of re-grindable tools, enabling better cost comparisons with disposable tooling options.
Q2: What factors affect the number of regrinds possible?
A: Tool material, grinding quality, original tool size, and the amount of material removed during each regrind all influence the maximum number of regrinds.
Q3: Should tool maintenance costs be included?
A: For comprehensive cost analysis, additional maintenance and storage costs beyond grinding should be considered in the total cost calculation.
Q4: How accurate is this cost estimation?
A: This provides a basic estimation. Actual costs may vary based on grinding efficiency, tool life variability, and changing market prices.
Q5: When should this formula be used?
A: This formula is particularly useful for manufacturing operations using cutting tools, drills, and other tools that can be re-sharpened multiple times.