I was asked to make a lap quilt.. 45" x 60" I didn't give a price..so she call a quilting friend of mine and asked how much she should pay me. She told her that since i was using fabric from my stash so it probably would not be too much. My quilting friend told that that stash was purchased, so it is money that I had spent to create that stash. Anyway she gave me $80.
It took 3 yds top and 3 yds back @ $10. =$60, 4-6 hours cutting and piecing...2 hrs machine quilting, 4 hrs hand binding...12hrs total that equaled $1.66 per hr.
In the long run because I am retired and don't need to make a living with my hobby, I was just happy to get paid for the fabric.