ILLUSTRATION 11 Following annual charges are incurred in respect of a machine in a shop where manual labour is almost nil and where work is done by means of five machines of exactly similar type of specification : (i) Rent and Rates (proportional to the floor space occupied) for the shop 4,800 (ii) Depreciation on each machine 500 (iii) Repairs and maintenance for the five machines 1,000 (iv) Power consumed (as per meter) @ 5 P. per unit for the shop 3,000 (v) charges for light in the shop 540 (vi) Attendants : There are two attendants for the five machines and they are each Paid $60 per month. (vii) Supervision : For the five machines in the shop there is one supervisor whose emoluments are $250 p.m. (viii) Sundry supplies such as lubricants, jute and cotton waste etc., for the shop 450 (ix) Hire-purchase instalment payable for the machine (including $300 as interest) 1,200 The machine uses 10 units of power per hour. Calculate the machine hour rate for the machine for the year