In a factory where there are three shifts: The machine overhead cost is found to be £8.20 / hr, the labour overhead cost is found to be £30.20/hr, and the premises overhead cost is found to be £3.50/hr. Using the principle of overhead costing: If a single component takes 23 minutes to manufacture on the milling machine. What is the cost / part? You should include machine costs, labour costs and premises costs in your answer, but you can neglect material and energy costs. Express your answer in £ rounded up to the nearest penny.

Q: One year ago a machine was purchased at a cost of $2,000, to be useful for 6 years. However, the…

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A:

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