Officer(Project A/c & Finance)
21 Points
Joined December 2012
An individual person has one JCB,Machine(Earth Moving Machine) which is used for excavation of Minning Material ,for the purpose to make it on hiring.
1. It has cost of Rs.23 Lacs and has expected life of 20000 Hrs.and used 2500 Hrs. per year.
2. Finance amount is 70% of total cost. having interest @ 9 % p.a. and insurance cost is 1.25% of Depreciated value.Road tax has been paid in One Time Tax Scheme Rs.120000.
3. It has repair & maintenance cost @ 60% p.a of depreciation value and petty spares & parts @ 2% of depreciation value.
4. It has following operating expenses -:
(a) Fuel Cost 8 Ltr. per Hr. @ Rs.49.22 per Ltr.
(b) Lubrication Cost is 10 % of fuel cost.
(c) Wages paid to operator is Rs. 8000 per Month i.e Rs. 96000 p.a.
5. He want to earn profit @ 10% of the cost.
6. Depreciation is calculated on SLM Basis.
Please calculate rate of hiring per hour.