I'm glad I found this, because I've been going nuts wondering too. I am supposed to be making about 15 4" cookies for a bachelorette party in March. When I worked out ingredients and packaging/ribbon in the price matrix it came out to $0.70 per cookie just for ingredients..and thats not even including tax!
I was going to charge $1 a cookie but realize that I would be only making $4.50, and actually less then that when tax is figured in (I'm in good taxed to death Canada, lol). And though they are small, cookies DO take a lot of work, once you've coloured all the frosting and done the outlining, the decoration, and then all the packaging etc. Its time consuming, and not worth it for about $4! I still don't know how much to charge, because I know this person and feel weird charging $60 for 15 cookies.