I'd just like to add that a straight conversion is a little useless. Basically, everything in Australia is more expensive than America. But, our wages are also a lot higher to compensate. It's just the way the market is.
According to Wikipedia, U.S minimum wage averages about $5-7 per hour, whereas its $15-17 in Australia. That's a $10 which in my mind, completely compensates for the $5-10 difference in fabric prices.