Well, I know it's not a bed quilt, but a quilted table runner that I made for my mom for Christmas.
Fabric:
Panel - $6
Sashing - $3
Backing - $12
Binding - $2.50
Batting (I used scraps, but I guesstimated this) - $3.50
Label (Hand Embroidered on Muslin) - .50
Embroidery Thread - .50
Thread - $3
This total: $31
Labor:
9 hours @ $20 an hour (I handstitch binding)- 180
So.. $211 for a 24x58 table runner. Excluding electricity and water for the iron and machine.