The last quilt (queen size) I made for me cost:
Fabric $158
Batting $54
Backing (used King sheet found marked down) $11
I took it work to show another person who is thinking of making the same one and had someone ask me to make one and she would pay me $100 I think my eye roll answered her question. I also make alot of baby quilts for gifts and try to keep the cost under $50