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Gum paste ingredient cost?

post #1 of 7
Thread Starter 
Hello! Sorry if this has been asked already. I searched but couldn't find exactly what I needed. I'm trying to make my list of all my ingredients and the cost per unit and such. Well I'm completely confused on how to go about charging for gum paste. I normally buy the 1lb gum tex mix and sometimes I use a lot, other times I don't. So how do I go about deciding how much I should put down as a cost?
post #2 of 7
Thread Starter 
Also, I'm having a brain fart and I hate math so I need help. I buy a 24oz bottle of vegetable oil for $2.80. That's .12 an ounce because I just divide 2.80 by 24? Now I need to find out how much it is for 1/3cup of oil. So since there are 8 ounces in a cup I did .12 times 8 which equals .96 for 1 cup them divide that by 3 to get .32 for 1/3 cup? Is that right?
post #3 of 7

So are you selling gum paste or are you selling something made from gum paste? Flowers, etc?

post #4 of 7
Thread Starter 
Things made from gum paste such as flowers, figurines, etc.
post #5 of 7

I would take into account your material costs of course, but your price has to include your time, etc. Some charge by the hour, and some charge per piece..I guess it depends on how many you're making and how long it's taken you. 

 

I'm not going to figure out your math for you (I'm at work, doing the same thing for my job)..but use excel, it helps for calculations/formulas.

post #6 of 7
Quote:
Originally Posted by dg1248 View Post

Also, I'm having a brain fart and I hate math so I need help. I buy a 24oz bottle of vegetable oil for $2.80. That's .12 an ounce because I just divide 2.80 by 24? Now I need to find out how much it is for 1/3cup of oil. So since there are 8 ounces in a cup I did .12 times 8 which equals .96 for 1 cup them divide that by 3 to get .32 for 1/3 cup? Is that right?

That's correct, assuming a cup of vegetable oil weighs 8 ounces. You'll find it easier to price ingredients if you convert all volume measurements to weights, and you'll also get more consistent results.

If you are pricing gumpaste flowers/figures/etc. most of the cost will probably be in the labor.
post #7 of 7
Thread Starter 
Quote:
Originally Posted by jason_kraft View Post

That's correct, assuming a cup of vegetable oil weighs 8 ounces. You'll find it easier to price ingredients if you convert all volume measurements to weights, and you'll also get more consistent results.

If you are pricing gumpaste flowers/figures/etc. most of the cost will probably be in the labor.
Awesome!! Thank you Jason!
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