Part Cost Calculator
This calculator helps you determine the basic cost of a single part by adding its material cost and the cost associated with processing or labor.
Simply enter the cost of the raw material *per part* and the estimated processing/labor cost *per part*.
Enter Costs per Part
Understanding Basic Part Cost Calculation
What is Basic Part Cost?
At its simplest, the cost of manufacturing one unit of a product or component (a "part") can be broken down into direct costs: the cost of the raw materials used and the cost of the labor and machinery involved in transforming those materials into the finished part.
Basic Cost Formula
The most basic formula for the cost of a single part is:
Total Cost per Part = Material Cost per Part + Processing/Labor Cost per Part
This simplified model does not typically include indirect costs like overhead (rent, utilities, administration), packaging, shipping, or profit margin, which are usually added later in pricing decisions.
Part Cost Examples
Click on an example to see the simple calculation:
Example 1: Simple Widget
Scenario: Calculate the cost of making one small plastic widget.
1. Known Values: Material Cost per Part = $0.15, Processing/Labor Cost per Part = $0.50.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $0.15 + $0.50
4. Result: Total Cost = $0.65
Conclusion: The basic cost to produce one widget is $0.65.
Example 2: Machined Metal Bolt
Scenario: Find the cost of one standard metal bolt after machining.
1. Known Values: Material Cost per Part = $0.80, Processing/Labor Cost per Part = $1.20.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $0.80 + $1.20
4. Result: Total Cost = $2.00
Conclusion: The basic cost of one machined metal bolt is $2.00.
Example 3: 3D Printed Prototype
Scenario: Estimate the cost of filament and print time for a small 3D printed part.
1. Known Values: Material Cost (Filament) per Part = $0.30, Processing/Labor Cost (Printer time, electricity, finishing) per Part = $0.75.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $0.30 + $0.75
4. Result: Total Cost = $1.05
Conclusion: The basic cost of the 3D printed prototype is $1.05.
Example 4: Handcrafted Bead
Scenario: Calculate the cost of materials and labor for one handmade ceramic bead.
1. Known Values: Material Cost (Clay, glaze, firing) per Part = $0.10, Processing/Labor Cost (Sculpting, painting time) per Part = $0.90.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $0.10 + $0.90
4. Result: Total Cost = $1.00
Conclusion: The basic cost of one handcrafted bead is $1.00.
Example 5: Stamped Metal Component
Scenario: Determine the basic cost of a component made by stamping sheet metal.
1. Known Values: Material Cost (Sheet metal) per Part = $0.45, Processing/Labor Cost (Stamping press time, finishing) per Part = $0.60.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $0.45 + $0.60
4. Result: Total Cost = $1.05
Conclusion: The basic cost of the stamped metal component is $1.05.
Example 6: Injection Molded Part
Scenario: Calculate the material and processing cost for one part from an injection molding process.
1. Known Values: Material Cost (Plastic pellets) per Part = $0.25, Processing/Labor Cost (Injection molding machine time, cooling) per Part = $0.35.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $0.25 + $0.35
4. Result: Total Cost = $0.60
Conclusion: The basic cost of the injection molded part is $0.60.
Example 7: Cut Fabric Piece
Scenario: Determine the cost of fabric and cutting time for one fabric piece.
1. Known Values: Material Cost (Fabric) per Part = $0.55, Processing/Labor Cost (Cutting time, machine wear) per Part = $0.20.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $0.55 + $0.20
4. Result: Total Cost = $0.75
Conclusion: The basic cost of the cut fabric piece is $0.75.
Example 8: PCB Component Placement
Scenario: Estimate the cost of a single electronic component and its placement on a PCB (simplified).
1. Known Values: Material Cost (Component price) per Part = $1.50, Processing/Labor Cost (Placement machine time, soldering) per Part = $0.10.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $1.50 + $0.10
4. Result: Total Cost = $1.60
Conclusion: The basic cost of the component and placement is $1.60.
Example 9: Wood Cutout
Scenario: Calculate the cost of wood and cutting time for a single shape cut from wood.
1. Known Values: Material Cost (Wood) per Part = $0.70, Processing/Labor Cost (Sawing time, finishing) per Part = $0.40.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $0.70 + $0.40
4. Result: Total Cost = $1.10
Conclusion: The basic cost of the wood cutout is $1.10.
Example 10: Die-Cast Part
Scenario: Estimate the cost of material and the casting process for one die-cast part.
1. Known Values: Material Cost (Metal alloy) per Part = $2.50, Processing/Labor Cost (Casting machine time, trimming) per Part = $0.80.
2. Formula: Total Cost = Material Cost + Processing Cost
3. Calculation: Total Cost = $2.50 + $0.80
4. Result: Total Cost = $3.30
Conclusion: The basic cost of the die-cast part is $3.30.
Frequently Asked Questions about Part Cost
1. What does the "Part Cost Calculator" do?
It calculates the very basic cost of producing one single unit (part) by adding the cost of the raw material needed for that part and the direct processing or labor cost incurred to make that part.
2. What inputs are required?
You need to provide two inputs: "Material Cost per Part" and "Processing/Labor Cost per Part".
3. What is the output?
The output is the "Total Cost per Part", which is the sum of the two input values.
4. How is the Total Cost per Part calculated?
It's calculated using the simple formula: Material Cost per Part + Processing/Labor Cost per Part.
5. What units should I use for the costs?
You can use any currency (e.g., USD, EUR, GBP) or unit of cost (e.g., points, credits), but you must use the *same* unit for both the Material Cost and the Processing/Labor Cost. The result will be in that same unit.
6. Does this cost include overhead, packaging, or shipping?
No, this is a *basic* cost calculator focusing on direct material and processing/labor costs per unit. It typically does not include indirect costs, overhead, or costs related to packaging, shipping, or marketing.
7. Can I enter zero for either cost?
Yes, you can enter 0 for either the Material Cost (e.g., using scrap or free materials) or the Processing/Labor Cost (e.g., fully automated process with no labor allocation), as long as the value is not negative.
8. What if my material cost varies or is calculated by weight?
This calculator requires you to input the *cost per part*. If your material cost varies or needs to be calculated from weight/volume, you'll need to do that calculation *before* using this tool to get the 'Material Cost per Part' value.
9. What if my labor is paid hourly, not per part?
Similar to material cost, you would need to calculate your effective 'Processing/Labor Cost per Part' based on the time it takes to make one part and your hourly labor rate (plus any direct machine costs per hour).
10. Is this tool suitable for calculating the final *selling* price?
Generally, no. The final selling price usually includes the basic part cost calculated here, plus overhead, profit margin, marketing costs, etc. This tool calculates only a foundational component of the total cost.
