If you are just making cake for "fun", then it really doesn't matter what you charge (assuming you legally can in your area, and that you have followed all the rules and regs to be legal). With some tough love, I'm going to answer like a business person:
You paid yourself less then slave wages, and I'm assuming you didn't take any overhead into account for your costs (power, water, gas). You didn't pay your business any profit so you have zero chance of growing, buying more supplies for the next cake, upgrading equipment, building money in the bank for future expenses OR collecting the money you'll need to pay in taxes for the sale. So, if you like paying people to eat your cake, get free rent, electricity, water, and gas, never want to buy another cool cake tool/supply again, and never plan on claiming the sale to the IRS, then yeah. You did fine.