Enter the total quantity of material needed and the cost per unit of material ($/unit) into the Material Cost Calculator. The calculator will evaluate and display the Material Cost.
Material Cost Formula
The following formula is used to calculate the Material Cost.
MC = Q * CPQ
- Where MC is the Material Cost ($)
- Q is the total quantity of material needed
- CPQ is the cost per unit of material ($/unit)
To calculate the material cost, multiply the total quantity of material by the cost per unit of material.
How to Calculate Material Cost?
The following example problems outline how to calculate Material Cost.
Example Problem #1:
- First, determine the total quantity of material needed. The total square quantity of material needed is given as 150.
- Next, determine the cost per unit of material ($/unit). The cost per unit of material ($/unit) is provided as 3.
- Finally, calculate the Material Cost using the equation above:
MC = Q * CPQ
The values given above are inserted into the equation below:
MC = 150 * 3 = 450 ($)
Example Problem #2:
The variables needed for this problem are provided below:
total quantity of material needed = 700
cost per unit of material ($/unit) = 3
Entering these values and solving gives:
MC = Q * CPQ = 2,100.00 ($)
