How to calculate machine hour rate taking into account,machine cost,operator wages,Setter charges,e,goperationwise chartool,power,oil and other consumables,overhead,profit etc.for machining of automobile parts ?

Is this really for homework? You're in the homework forum, but this sounds like real life stuff.

(That would be the fault of the wonderful new skin the developers think makes things so much easier for newbies, but instead makes people post real life accounting questions in homework instead, cause well... it doesn't work as wonderful as they think it does.)

Either way, there's the "textbook" formulas, and then there's real life, which is much, much more complicated. You might start with some reading:
Principles of Accounting Chapter 18