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Estimate cost and waste
Calculate material quantities from the actual parts and purchase units. Add consumables and a sensible allowance for waste, then compare with supplier sizes. Do not label a rough estimate as an exact quote.
Keep labor and materials separate. If you sell a project, consider overhead, fees and rework rather than treating every dollar above material cost as profit.
Worked example
Materials $30 + consumables $5 + labor 2 h × $15 = $65 before overhead and fees.
Try it yourself
Price a cardboard project, recording materials, time and three uncertain costs.
Check your understanding
What is the subtotal for $30 + $5 + 2 × $15?
Labor is $30, giving $65 in total.
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