this is the area that causes fits for anyone who creates handcrafted items. A VERY basic formula is - the cost of your product, the cost of 'things'(electricity, machine use, driving expenses,etc), and your time spent (it is up to you to figure what that is worth). Then you can start to add in the 'extras' - profit, friendship, purpose etc. Now, can the market take it at that cost? What is a reasonable mark-up for profit for your area. If you are sending it, don't forget to add in the cost of your packaging, shipping AND THE COST OF TIME TO PACKAGE AND SEND. This is the area most new business folks fail at. If you had to hire a clerk to wrap, seal, label and send it, you would need to pay them! Obviously, with quilts, you are doing one at a time. But, if you are making smaller items (mug rugs, placemats, purses), you can also use the formula of cost of all materials times 3. To get a feel for what you are putting into your project, keep a small tablet with your machine or cutting table. Note the time spent each time you sit down and any additional items you may use. You will be surprised how quickly the hours add up!