A machine was purchased on January 1, in the current year. The following information relate to the machine : Cost of mac

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A Machine Was Purchased On January 1 In The Current Year The Following Information Relate To The Machine Cost Of Mac 1 (103.08 KiB) Viewed 11 times

A machine was purchased on January 1, in the current year. The following information relate to the machine : Cost of machine $ 4,20,000 Estimated life 10 years of 2,000 hours per year Estimated scrap value $ 20,000 Estimated repairs for whole life $ 1,05,000 Power consumed per hour 5 units @ $5 per unit Insurance (on original cost) 0.75% per month Consumable stores $300 per month The machine is installed in a department whose monthly rent is $ 5,000 and this machine occupies 1/5 of the area. Total monthly lighting expenses is 4,000 for 10 light points, of which 3 relate to the machine. A supervisor with monthly salary of $ 16,000, devotes 4 of his time to this machine. Calculate machine hour rate.