Cost of materials plus a MINIMUM of $10.00/hr for your time...to me, my time is precious, and I would charge at least $12/hr...I have enough of my own projects, that I wouldn't make something for someone else unless I am compensated well enough for my time. A quilt that you give away as a gift is a labor of love and priceless, but if you are making one to order, you should be paid appropriately for your TIME!