Given that the cubical piece has side (s) 7 mm, and a cylindrical hole of diameter (d) as 3 mm.
The volume of the piece can be calculated as,
It is mentioned that the material costs $207 per cubic meter, so the cost (c) of 1 piece is calculated as,
This is the cost (in dollars) for 1 piece.
Given that the manufacturer wants to produce 1,000,000 such pieces, so the total cost (TC) is calculated as,
Thus, the total prototypes will cost around $60.75