I'm making a strawberry cake in the shape of a panda bear and my client wants cream cheese frosting. First off, I'm new to decorating cakes for money so I don't know how much to charge. Second, I've never made a strawberry cake and I'm not sure if it's good for carving into a shape. And thirdly, I've never made cream cheese frosting let alone dye it black. Is it even possible? 

Please help me! My cake is due May 8th! 

Ummmmm my first thought was "duck" or grow a thick skin,  because there are going to be some interesting answers to this one.

Uh...that's a tough one. Rather not expressing a few concerns I have after reading your post... Many threads about pricing on cc, maybe read those? I never attempted dying cream cheese frosting black, guess it would look grey, so I would rather go with fondant.

Definitely search pricing threads.  As to the black cream cheese you can ask your bride if you can make chocolate cream cheese and then add the black because to go from white to black will take a ton of color and will not taste good plus staining the guests teeth.  There are very dark even black chocolates that will be much easier to take to pure black.

A paid order is not the time to try so many new recipes and techniques.  I would suggest you call your customer and say you cannot make her order and fully refund the money with your full apologies.  Then work on your business plan.  Search CC for the multitude of pricing threads.  Work on your recipes.  Don't take an order that uses a new recipe or technique unless you have ample time to test it first.  Or spend the next few days cramming in to try new recipes and hope to not have a disaster for your customer.