Cost per minute (CPM) is useful for calculating the cost of services or tasks that are based on time, such as freelance work, machinery usage, or any other activity where time is a key factor in determining the cost. This calculator helps you understand the breakdown of cost based on the time duration.

## How to Calculate Cost per Minute

- Enter the total cost of the service, task, or activity.
- Input the total time spent or allocated in minutes.
- Click on 'Calculate Cost per Minute' to view the result.

### Cost per Minute Formula

The formula for calculating cost per minute is straightforward:

**Cost per Minute = Total Cost / Total Time in Minutes**

### Example Calculation

If you spent $300 on a service that lasted 150 minutes, the cost per minute would be calculated as:

**Cost per Minute = 300 / 150 = 2.00 USD**

### Importance of Cost per Minute

Knowing the cost per minute is crucial in industries that bill clients based on time spent, like consultancy, machinery rentals, or any other time-based service. This metric helps optimize pricing and manage budgets more effectively.