Compute machine hour rate of a machine in a shop consisting of three similar machines occupying equal floor space. Following details are supplied for the machine of which standard working hours per year are fixed at 3,00

Compute machine hour rate of a machine in a shop consisting of three similar machines occupying equal floor space. Following details are supplied for the machine of which standard working hours per year are fixed at 3,000 hours. Normal idle time is estimated at 25% of the standard time: ₹ Rent and rates of the shop (per annum) 5,550 General electricity for the shop (per month) 225 Repairs and maintenance expenses for the machine (per annum) 675 Rate of power charges for 100 units (the machine consumes 10 units per hour) 5 Foreman's salary for supervising all the three machines (per month) 1,000 Indirect labour cost for the machine (per hour) 4 The machine costs ₹1,70,000 and scrap value is estimated at ₹12,500 after estimated useful life of 10 years. The foreman devotes equal attention to all the machines in the shop.