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 ($/unit)
How to Calculate Material Cost?
The following example problems outline how to calculate Material Cost.
Example Problem #1:
- First, determine the total quantity of material needed. The total square quantity of material needed is given as 150.
- Next, determine the cost per unit of material ($/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 ($/unit) = 3
Entering these values and solving gives:
MC = Q * CPQ = 2,100.00 ($)
