In order to reduce manufacturing cost, a methodology of accuracy synthesis for machine tool was recommended by combining both machining cost and Least Square method. Weighted coefficients representing the machining difficulty of manufacturing processes were introduced. 3PRS/UPS redundant parallel kinematic mechanism (3PRS/UPS PKM) was taken as an example, and its component tolerances were derived by the proposed method. Comparing with conventional method, the component tolerances were allocated reasonably. A further tolerance allocation for spherical and rotational joints was studied in detail. And hence, the producibility of component was improved and the manufacturing cost was reduced. The results showed that the proposed method was capable of producing tolerance allocations economically and accurately.