Economics of machining
Basic model to provide the average unit can be to produce a given work piece configuration at
the sum of four costs.
1. Machining cost
2. Tool cost
3. Tool changing cost
4. Handling cost
Assumptions of machining
1. The work piece material is homogeneous.
2. Tool geometry is preselected .
3. The feed and depth of cut are preselected and constant .
4. Sufficient power is available to undertake the operation.
5. Cost per operating time is independent of actual cutting time.