Okay this is gonna be a bit gross and a bit NSFW so be careful.
There are two options for genital surgery.
Metoidioplasty depends on the effect of testosterone on the clitoris; basically the clit gets bigger, and will end up being 1–2 inches in length and resembling a perfect penis, capable of full erection, orgasm (and even penetration for some lucky lads). Metoidioplasty cuts the penis free of the clitoral hood so it hangs in a natural position, and hooks up the urethra so it’s possible to urinate through it. You end up with a perfect but very small penis. A scrotum with silicone implants is also constructed from the labia. Cost – around $15,000–25,000
Phalloplasty uses skin and tissue grafts from other parts of the body (usually the abdomen, inner thigh or inner arm) to construct a full-size penis which is then grafted on, again with a urethral hook-up. Clitoral tissue is used on the head of the new penis in the hope of maintaining orgasmic function. Again the scrotal implant is made too. Erection is only possible by using an implant and pump, but penetration is possible. Loss of sensation is a common problem and orgasm may no longer be possible but some trans-men prefer to risk this in order to end up with a full-size penis. Cost around $30,000–50,000.
There are a lot of risks with both types of surgery, including horror stories of phalloplasts actually falling off, and cases where the urethral hook-up didn’t work. Neither of these surgical options will allow actual ejaculation because the testicles are made of silicone.
As an alternative there are some really excellent-looking medical prosthetics that can be used instead – either for sex or for urination, but rarely both functions in the same one. They cost between $500 and $1500 but would need replacing every couple of years or so.