Ok- I dont do this as a business exactly. Yes I do sell some of my cakes but for the most part I usually just make them for friends bdays, etc. I have made 2 wedding cakes as gifts (and practice) (I know I know, I am crazy and DH wants to ring my neck for not charging) but they are very close friends.
Anyway, I recently did a wedding cake and a guest (actually the brides make-up artist) asked me to do a bridal shower cake for her sister. She wants a cake to serve 50 so I am thinking about doing a 14in round. Or she may go with an 8 in and 24 cupcakes. Anyway, I dont know what to quote her on price. I am not a professional by any stretch but I want to make sure I dont lose money on this. These are going to be basic vanilla cakes with bc frosting and gumpaste beachy items. I also feel bad charging too much because she did my daughters makeup and helped with mine for the wedding.
Any suggestions.
Kim
Cakes are, in general, priced per serving. The general range is $1.50 to $3.50 per serving. Some are lower than that .... some are higher than that.
Check with local bakeries (not grocery store bakeries) to see what the rates are for your area.
Here is the wilton wedding chart, that I use to determine pricing .... and by the way, it will give you a general idea of number of servings:
http://www.wilton.com/wedding/cakeinfo/cakedata.cfm
Please note I use it FOR PRICING PURPOSES. For example, the 10" round serves 38. I price it based on this many servings. I tell the client it will serve 25-35. They are welcome to cut it any size they want ... my price is the same regardless. So if they tell you "We want bigger pieces", then your reply should be "Then you need to buy more cake."
Here is a pictorial I put on my website to show people how to cut a wedding cake. If you do not stay and cut the wedding cake, I recommend you refer your brides to this page so they can see how it is done. They will thank you for it!! http://cateritsimple.com/_wsn/page19.html
It is common to charge extra for fondant ... it's a lot more time and work. Also if you do any special things like gumpaste, edible images, etc.
To give you an idea, my BC wedding cake per serving price is going up to $3.00 effective tomorrow. This price covers the cake, delivery and set-up.
thanks for posting the link to show how to cut a wedding cake, it was very helpful. I'm also new at the whole pricing thing, but I have been pricing cakes anywhere from $25 to $40 depending on size and decoration and how much time is invested in the cake.
Thankys debi for your response. I have been way undercharging. I guess I feel bad charging as much since I am not technically a professional. And I also have a hard time charging my friends. I do appreciate your response.
I agree it is difficult to say the cost you want for a cake... I am like you and I have started selling cakes too and you feel as you are not a profesional you shouldn't ask too much... I even feel flattered they have asked me and feel silly then discussing money (STUPID). I first do a costing of all ingredients... also consider how many hours you are in the kitchen when you could be elsewhere doing something of interest to you!!! My husband sounds like yours.. he says I must also consider the electricity for the oven!!!!!!! 
Anyway, you must remember you are providing a service... you didn't offer, she asked you!!! She is also a business woman and so she will expect to pay an honest price. So hold that head high.... actually it could be easier texting her the cost!!! You may be surprised what people are willing to pay for your cakes.
Thanks for the Wilton link, but I couldn't find the number of servings in a 9x13.
square and rectangle cakes are easy .... just do the math based on the size you are cutting. for example: 12x18, when cut into 2x2" pieces will be cut into 6 rows by 9 columns = 54 pieces.
Check this thread, too: http://forum.cakecentral.com/cake-decorating-ftopict-302303-feeding.html+80
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