UPSC Exam > UPSC Videos > Commerce & Accountancy Optional Notes for UPSC > Machine Hour Rate Problem With Solution
Machine Hour Rate Problem With Solution Video Lecture | Commerce & Accountancy Optional Notes for UPSC
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FAQs on Machine Hour Rate Problem With Solution Video Lecture - Commerce & Accountancy Optional Notes for UPSC
| 1. What is a Machine Hour Rate? |  |
Ans. A Machine Hour Rate is the rate at which a machine is expected to work or operate per hour, including all costs associated with its operation such as maintenance, repairs, and depreciation.
| 2. How is Machine Hour Rate calculated? | |
Ans. Machine Hour Rate is calculated by dividing the total cost of operating a machine by the total number of hours the machine is expected to work during a specific period.
| 3. What are the components included in calculating Machine Hour Rate? | |
Ans. The components included in calculating Machine Hour Rate typically include costs such as labor, materials, overhead, maintenance, repairs, and depreciation of the machine.
| 4. Why is Machine Hour Rate important in manufacturing industries? | |
Ans. Machine Hour Rate is important in manufacturing industries as it helps in determining the cost of production for each product, analyzing machine efficiency, making pricing decisions, and budgeting for future expenses.
| 5. How can a company improve its Machine Hour Rate? | |
Ans. A company can improve its Machine Hour Rate by reducing downtime, increasing machine efficiency, optimizing maintenance schedules, investing in technology upgrades, and training employees on proper machine operation and maintenance.
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Nov 21, 2024 Last updated |
Video Description: Machine Hour Rate Problem With Solution for UPSC 2024 is part of Commerce & Accountancy Optional Notes for UPSC preparation.
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