life $=7yr.$ The machine is planned for a two$-$shift operation, $8$ hours per shift, $5$ days per week, $50$ weeks per year. The applicable overhead rate on this type of equipment $=35\%.$ Determine the equipment cost rate.

$C_{eq}=\frac{500,000}{(60)(7)(4000)}(1+0\mathrm{.}35)=0\mathrm{.}4\frac{\text{\$}}{m}in$

The production machine in $1$ is used to sequentially produce a batch of parts that each has a starting cost of $$2\mathrm{.}35.$ Batch quantity $=100.$ The actual processing time in the operation $=3\mathrm{.}72$ min. Time to load and unload each workpiece $=1\mathrm{.}60$min. Tool cost $=$$$4\mathrm{.}40,$ and each tool can be used for $20$ pieces before it is changed, which takes $2\mathrm{.}5$ hours. Hourly wage rate of the operator $=$$$\frac{16\mathrm{.}50}{h}r,$ and the applicable labor overhead rate $=40\%.$ Determine $($a$)$ the cycle time for the piece, $($b$)$ average production rate when setup time is figured in$,$ and $($c$)$ cost per piece.