I am nearing the end of a certificate program that I began close to a year ago. I could have finished the course requirements long ago, but I turned my focus towards my e-commerce sites that I started on Shopify.
This blog is pertaining to a previous assignment which I had to create an accessory out of unconventional materials and things that were just around me......but, the item that I designed had to be inspired by a photo on my Pinterest "Inspiration Board". So, for this current and particular assignment, I am to price each material in my creation and calculate the cost of materials along with the wage I would pay an employee to produce it and then figure what my retail price would be.
So.....here are the photos that sparked the designing of my wrist cuff
The Wrist Cuff: 
My wrist cuff was constructed out of a Grosgrain ribbon 3in wide that came wrapped around a blanket I received as a Christmas present and had velcro at each end for it's attachment. I shortened the ribbon and reattached the velcro fastening with my sewing machine. Then I hand sewed/attached all of the semi-precious stones to the base fabric. The 20 hematite discs spread out on each side are to represent floating stars. There is a blank black void of space in the middleand on each side of that void is a natural spike of Crystal Quartz which enhances spirituality, growth, awareness, inspiration and creativity. Also, in this case it separates the two alternate realms/universes of existence.There is a Sun on each side of Rose Quartz which is a stone that brings serenity....a planet reresenting our Earth which is Blue Kyanite, a stone with protection properties, and a New Earth that is of Moonstone, which promotes healing and balance along with enhancing intuition....then a version of our moon on each side....one of Rose Quartz again and the other a silver faceted bead.The production cost of this item is probably lower than one would expect. All of the materials can be purchased on Amazon.com. So, here is my list and cost for each ingredient to produce the item I created in multiples.
-3in Wide Grosgrain Black Ribbon 10yd/Spool $9.99
1yd=36in...10yd=360in...one cuff=8in...one spool=45 cuffs...$0.22/cuff
-Velcro 5yds Hook & 5yds Loop $5.99
1yd=36in...5yds=180in...180in/3in=60 bracelets...this = $0.10 per unit
-Gunmetal Hematite Separator 4mm Beads $5.35 for 15.5" strand=
324 beads= $0.02/bead x 20=$0.40/cuff
-Rose Quartz 10m Rose Quartz Beads $6.88 for 15" strand = 38 beads
2 beads per cuff = $0.36
-Rose Quartz 4mm Beads $5.99 for 15" strand = 95 beads.
1 bead per cuff = $.06
-Blue Kyanite 8mm Beads $7.99 for 15" strand =48 beads
1 bead for each cuff = $0.16 per cuff
-Natural Spike Crystal Quartz $13.99 for 100 beads
$0.14 per bead...2 beads per cuff= $0.28
-Moonstone Crystal 8mm Glass beads.....49 beads at $12.99
1 bead per cuff = $0.26
Silver Faceted 4mm Glass beads $4.36 for 100 beads
1 bead per cuff = $0.04
So, to summarize the costs per cuff:
Grosgain 3" Ribbon $0.22
Velcro $0.10
20- Hematite Beads $0.40
2- 10mm Rose Qtz $0.36
1- 4mm Rose Qtz $0.06
1- 8mm Blue Kyanite $0.16
2- Crystal Qtz $0.28
1- Moonstone 8mm $0.26
1- 4mm Silver Faceted $0.04
Cost of Materials............= $1.88
Chicago Minimum Wage = $13.00/hr....2 cuffs can be produced in one hour...so $6.50 of labor per cuff.
$1.88 + $6.50=$8.38 I would never sell an item for just 20% profit. I would sell this cuff for $19.95 and if I could not move my inventory , I have leaway to discount my price without compromising much profit per item.