I took an arts marketing class a couple of years ago, the formula is the cost of materials, this includes your power bill, gas for the car, your machines, etc. Double the cost of material at replacement cost, and charge for labor x 2 for the wholesale price. I charge a 500.00 non refundable deposit on all large quilts, this covers the cost of the fabric. Once I start the project, if they do not like it, I cannot take the cut fabric back to the store.
Here is one link to pricing.
If you are doing this for fun, charge whatever you want. If you are doing it for a job charge enough to pay yourself, a decent wage, 20.00 an hour almost covers living expenses.
http://www.inspiri-art-and-craft.com...g-formula.html