Compute the machine-hour rate from the following Data Cost of machine Estimated scrap value after the expiry of its useful life (5 years) Rent and rates for the shop per month General lighting for the shop per month Insurance premium for the machine per annum Repairs and maintenance expenses per annum Power consumption,- 10 units per hour @ $6 per unit $ 30,00,000 5,00,000 10,000 6,000 48,000 50,000 Estimated working hours per annum 2,200 (including setting-up time of 200 hours;no power is required during setting-up time) 60 Shop supervisor's salary per month 30,000 The machine occupies one-forth of the total area of the shop. The supervisor is expected to devote one-fifth of his time for supervising the machine. Determine machine-hour rate.