Final Purse
My final production of the bag would be a lot more expensive because I used multiple fabric paints. Matte paper is more expensive as well so that upped my production costs. It took me longer to make than my other versions. Overlooking the numbers now, I probably would have upped my wage. I guess I’m so used to not valuing my work as much because I’m still a student, but this exercise showed me that I can step up out of my comfort zone with wage because of the time I spent constructing the bag. I came up with the suggested retail price by multiplying total cost and profit by another 20%. I was just experimenting because I know that in order to make a higher profit, I would need a higher markup. Looking at this now, I would probably only suggest the retail price be $50.