I got a call last week for an order of 5 mini wedding cakes for this coming Saturday. It is a last minute thing. I could really use the money right now, so I agreed to do them on such short notice! I have two other weddings this weekend, so I decided to bake them today and freeze them. I originally told the lady I would do them for $100 each, but she talked me down to $50 each. I am such a push over! Each mini cake is a different flavor, and they are all being covered in fondant. I am just adding a border, and they are adding ribbon and flowers to them themselves. Anyway, I have spent HOURS baking these little buggers. They are an 8" cake with a 5" on top. I only have one 5"pan, and one set of 8" pansm so it has become quite lengthy...why do I do this to myself? I am definitlly ordering some more of these for next time!
I am done with them for now...just needed to vent! What is the going rate for these cakes anyway? Anyone know?

That's about 30 servings in each cake, at $3 per serving per cake for simple fondant. I'd figure about $90 each. Your first estimate was more on the money, I think.
Just remember, experience is what we get when we didn't get what we wanted in the first place!