A question asked frequently ...... FREQUENTLY...... in the cake world is "How much should I charge for this cake?"
It's not a simple question. Most bakers struggle with coming up with a good pricing structure that works for their business. There are SO many factors to consider: cost of ingredients, overhead, labor costs (most bakers overlook this because they fail to factor in their time as an expense), skill value and more. Even what part of the country a baker is in can be a factor. New York wedding cakes have a higher cost base than, let's say, one I would make here in Indiana simply because I can rent a shop much cheaper in Indiana than what a baker would have to pay in New York, making my overhead much lower than the NY baker.
One of the best articles on this topic is from my friends at Cakeboss Software for Bakers. Here is the link to their article. If you are a new baker who is just setting up a pricing structure for a new business (or an "old" baker who struggles with pricing in general!), I'm sure you'll want to print out this article and hang it next to your desk area for easy reference!!