Geography High School

H. W2 break even analysis milled tooth bit drilled 2,461 ft of limestone in 150 rotating hours. Other relevant data for this bit is: Trip time (T) = 8 hrs,Bit cost (B) = $3,000, Rig cost = 900 $/hr It is proposed to replace this bit with an insert-type bit costing 8,500. Calculate the rotating time required of the new bit at breakeven cost for equal penetration rates

Answers

Answer 1

The rotating time required for the new insert-type bit to reach the breakeven cost for equal penetration rates is 143.89 hours.

To calculate the rotating time required for the new bit at breakeven cost for equal penetration rates, we can use the concept of break-even analysis. Break-even analysis determines the point at which the cost of two alternatives is equal.

1. Calculate the cost of drilling with the milled tooth bit:

  Cost of drilling with the milled tooth bit = Trip time cost + Rotating time cost

  Trip time cost = Trip time (T) x Rig cost per hour

               = 8 hrs x $900/hr

               = $7,200

  Rotating time cost = Rotating time x Rig cost per hour

                     = 150 hrs x $900/hr

                     = $135,000

  Total cost of drilling with the milled tooth bit = Trip time cost + Rotating time cost + Bit cost

                                                 = $7,200 + $135,000 + $3,000

                                                 = $145,200

2. Set up the equation for the break-even point:

 Cost of drilling with the milled tooth bit = Cost of drilling with the insert-type bit

  $145,200 = Trip time cost + Rotating time x Rig cost per hour + Cost of the insert-type bit

            = $7,200 + (Rotating time x $900) + $8,500

3. Rearrange the equation to solve for the rotating time:

  Rotating time x $900 = $145,200 - $7,200 - $8,500

  Rotating time x $900 = $129,500

  Rotating time = $129,500 / $900

                = 143.89 hours

Therefore, the rotating time required for the new insert-type bit to reach the breakeven cost for equal penetration rates is approximately 143.89 hours.

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