Cost Estimation For Mass Production Using Jigs And Fixture
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COST ESTIMATION FOR OUR FIXTURE
1. MATERIAL COST Weight
= (π/4) × D2 × L × ρ = (π/4) × (62×10-3)2 × (30×10-3) × (7850) = 0.710 kg
Cost of 1 kg of EN1A LEADED = Rs.60 Cost of 0.710 kg
= 60×0.710
Material cost
= Rs.42.65
2. MACHINING COST
a. BAR CUTTING = length of cut × cost = 62×0.08 = 4.96
b. ROUGH MACHINING 19 mm drilling hole in lathe
= Rs.2
c. CNC MACHINING Time of machining
= 150 sec
Number of components in 1 hour = 3600/150 = 25 Number of components in 8 hours = 24×8 = 192 Rounding off for practical reasons = 192×0.85 Number of components
= 160
CNC cost of working for 8 hours
= Rs.2000
Cost of 1 component
= 2000/160 = Rs.12.5
d. CROSS HOLE DRILLING Time for drilling
= (length of drill× time) / (feed×R.P.M) = (20×60)/(0.04×2500)
Time for drilling
= 12 sec
Total time drilling 4 holes
= 60 sec
Number of components in 1 hour = 3600/60 = 60
Number of components in 8 hours = 60×8 = 480 Rounding off for practical reasons = 480×0.85 Number of components
= 400
Drilling machining cost per shift
= Rs.800
Cost of drilling for 1 component
= 800/400 = Rs.2
2. LABOUR COST Time for all operations
= 120+120+150+60 = 450sec = 0.125 hour
Labour cost per hour
= Rs.60
Labour cost for 1 component
= 60×0.125 = Rs.7.5
3. PRIME COST Prime cost
= material cost + labour cost + machining cost = 42.62 + (4.96+2+12.5+2) + 7.5 = Rs.71.61
4. OVERHEAD COST = 71.61×0.2 = Rs.14.32
5. SELLING AND DISTRIBUTION COST = 0.06×71.61 = Rs.4.29
6. TOTAL COST Total cost
= prime cost + overhead cost + selling and distribution cost = 71.61 + 14.32 + 4.29 = Rs.90.22
7. SELLING PRICE = Rs.110 8. PROFIT = selling price - total cost
= 110 - 90.22 = 19.78
COST ESTIMATION WITH MANUAL VICE
1. MATERIAL COST Weight
= (π/4) × D2 × L × ῤ = (π/4) × (62×10-3)2 × (30×10-3) × (7850) = 0.710 kg
Cost of 1 kg of EN1A LEADED = Rs.60 Cost of 0.710 kg
= 60×0.710
Material cost
= Rs.42.65
2. MACHINING COST
a. BAR CUTTING = length of cut × cost = 62×0.08 = 4.96
b. ROUGH MACHINING 19 mm drilling hole in lathe
= Rs.2
c. CNC MACHINING Time of machining
= 150 sec
Number of components in 1 hour = 3600/150 = 25 Number of components in 8 hours = 24×8 = 192 Rounding off for practical reasons = 192×0.85 Number of components
= 160
CNC cost of working for 8 hours
= Rs.2000
Cost of 1 component
= 2000/160 = Rs.12.5
d. CROSS HOLE DRILLING Time for drilling
= (length of drill× time) / (feed×R.P.M) = (20×60)/(0.04×2500)
Time for drilling
= 12 sec
Total time drilling 4 holes
= 240 sec
Number of components in 1 hour
= 3600/240 = 15
Number of components in 8 hours = 15×8 = 120 Rounding off for practical reasons = 120×0.85 Number of components
= 100
Drilling machining cost per shift
= Rs.800
Cost of drilling for 1 component
= 800/100 = Rs.8
2. LABOUR COST Time for all operations
= 120+120+150+240 = 630sec = 0.175 hour
Labour cost per hour
= Rs.60
Labour cost for 1 component
= 60×0.175 = Rs.10.5
3. PRIME COST Prime cost
= material cost + machining cost + labour cost
= 42.62 + (4.96 + 2 + 12.5 + 8) + 10.5 = Rs.80.61
4. OVERHEAD COST = 80.61 × 0.2 = Rs.16.32
5. SELLING AND DISTRIBUTION COST = 0.06 × 80.61 = Rs.4.836
6. TOTAL COST Total cost
= prime cost + overhead cost + selling and distribution cost = 80.61 + 16.32 + 4.86 = Rs.101.77
7. SELLING PRICE = Rs.110
8. PROFIT = selling price - total cost = 110 – 101.77 = 8.44
1. MATERIAL COST Weight
= (π/4) × D2 × L × ρ = (π/4) × (62×10-3)2 × (30×10-3) × (7850) = 0.710 kg
Cost of 1 kg of EN1A LEADED = Rs.60 Cost of 0.710 kg
= 60×0.710
Material cost
= Rs.42.65
2. MACHINING COST
a. BAR CUTTING = length of cut × cost = 62×0.08 = 4.96
b. ROUGH MACHINING 19 mm drilling hole in lathe
= Rs.2
c. CNC MACHINING Time of machining
= 150 sec
Number of components in 1 hour = 3600/150 = 25 Number of components in 8 hours = 24×8 = 192 Rounding off for practical reasons = 192×0.85 Number of components
= 160
CNC cost of working for 8 hours
= Rs.2000
Cost of 1 component
= 2000/160 = Rs.12.5
d. CROSS HOLE DRILLING Time for drilling
= (length of drill× time) / (feed×R.P.M) = (20×60)/(0.04×2500)
Time for drilling
= 12 sec
Total time drilling 4 holes
= 60 sec
Number of components in 1 hour = 3600/60 = 60
Number of components in 8 hours = 60×8 = 480 Rounding off for practical reasons = 480×0.85 Number of components
= 400
Drilling machining cost per shift
= Rs.800
Cost of drilling for 1 component
= 800/400 = Rs.2
2. LABOUR COST Time for all operations
= 120+120+150+60 = 450sec = 0.125 hour
Labour cost per hour
= Rs.60
Labour cost for 1 component
= 60×0.125 = Rs.7.5
3. PRIME COST Prime cost
= material cost + labour cost + machining cost = 42.62 + (4.96+2+12.5+2) + 7.5 = Rs.71.61
4. OVERHEAD COST = 71.61×0.2 = Rs.14.32
5. SELLING AND DISTRIBUTION COST = 0.06×71.61 = Rs.4.29
6. TOTAL COST Total cost
= prime cost + overhead cost + selling and distribution cost = 71.61 + 14.32 + 4.29 = Rs.90.22
7. SELLING PRICE = Rs.110 8. PROFIT = selling price - total cost
= 110 - 90.22 = 19.78
COST ESTIMATION WITH MANUAL VICE
1. MATERIAL COST Weight
= (π/4) × D2 × L × ῤ = (π/4) × (62×10-3)2 × (30×10-3) × (7850) = 0.710 kg
Cost of 1 kg of EN1A LEADED = Rs.60 Cost of 0.710 kg
= 60×0.710
Material cost
= Rs.42.65
2. MACHINING COST
a. BAR CUTTING = length of cut × cost = 62×0.08 = 4.96
b. ROUGH MACHINING 19 mm drilling hole in lathe
= Rs.2
c. CNC MACHINING Time of machining
= 150 sec
Number of components in 1 hour = 3600/150 = 25 Number of components in 8 hours = 24×8 = 192 Rounding off for practical reasons = 192×0.85 Number of components
= 160
CNC cost of working for 8 hours
= Rs.2000
Cost of 1 component
= 2000/160 = Rs.12.5
d. CROSS HOLE DRILLING Time for drilling
= (length of drill× time) / (feed×R.P.M) = (20×60)/(0.04×2500)
Time for drilling
= 12 sec
Total time drilling 4 holes
= 240 sec
Number of components in 1 hour
= 3600/240 = 15
Number of components in 8 hours = 15×8 = 120 Rounding off for practical reasons = 120×0.85 Number of components
= 100
Drilling machining cost per shift
= Rs.800
Cost of drilling for 1 component
= 800/100 = Rs.8
2. LABOUR COST Time for all operations
= 120+120+150+240 = 630sec = 0.175 hour
Labour cost per hour
= Rs.60
Labour cost for 1 component
= 60×0.175 = Rs.10.5
3. PRIME COST Prime cost
= material cost + machining cost + labour cost
= 42.62 + (4.96 + 2 + 12.5 + 8) + 10.5 = Rs.80.61
4. OVERHEAD COST = 80.61 × 0.2 = Rs.16.32
5. SELLING AND DISTRIBUTION COST = 0.06 × 80.61 = Rs.4.836
6. TOTAL COST Total cost
= prime cost + overhead cost + selling and distribution cost = 80.61 + 16.32 + 4.86 = Rs.101.77
7. SELLING PRICE = Rs.110
8. PROFIT = selling price - total cost = 110 – 101.77 = 8.44
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