When planning meals for yourself it’s essential to know the true cost of each recipe. This involves understanding how to cost out a recipe with some accuracy. Below I’ve listed the steps to calculate the cost of ingredients to give you and estimated cost of each ingredient.
You might find that the recipe you make at home isn’t always the most cost effective. Do this with a few of your favorite recipes to get an idea of the true cost.
Costing out a recipe might seem like a tedious process, but it is important for budgeting and planning.
By following these steps, you’ll have an accurate and comprehensive understanding of the cost involved in cooking your favorite recipes.
How to Calculate Cost of a Recipe for the Home Cook
Lets say you have none to the ingredients on hand and you go to the store to buy all the ingredients to make tofu lettuce wraps, the grocery bill might be $20, but that’s NOT the true cost of the recipe because you will use only a fraction of what you purchased.
Its also important to think about the possibility of using the ingredients in other recipes. if you buy an ingredient that will NEVER be used for any other recipe, then may want consider this into the cost.
BONUS TIP: If you need a herb or a spice that rarely is used, go to a grocery store that sells bulk spices and herbs and buy only what you need. In my area both Sprouts and Lazy Acres carries these bulk items.
Step 1: List Your Ingredients
Write down every ingredient in your recipe, including even small items like salt, sugar, and spices.
Step 2: Determine the Quantity Used
Calculate the amount of each ingredient used in the recipe. This can be in grams, ounces, cups, or any other relevant unit.
Step 3: Calculate the Cost of Each Ingredient
Find the cost of the whole package of each ingredient and then calculate the cost for the amount used in the recipe. Here’s how you can do it:
Example 1: Calculate the cost of the Flour and Sugar
- Suppose you have a recipe that requires 2 cups of flour, and you’ve bought a 5-pound bag for $2.50.
- Convert pounds to cups: A pound of flour is roughly equivalent to 3.62 cups. So, 5 pounds is about 18.1 cups.
- Calculate the cost per cup: Divide the total cost of the bag by the number of cups: $2.50/18.1cups=$0.14percup$2.50/18.1cups=$0.14 per cup
- Calculate the cost for 1 cups: $0.14∗2cups=$0.28$0.14∗2cups=$0.28
Example 2: Now lets calculate the cost of the Sugar
If your recipe requires 1/2 cup of sugar and a 4-pound bag costs $2.00:
Convert pounds to cups: A pound of sugar is roughly equivalent to 2.25 cups. So, 4 pounds is 9 cups.
Calculate the cost per cup: $2.00/9cups=$0.22percup$2.00/9cups=$0.22percup
Calculate the cost for 1/2 cup: $0.22/2=$0.11$0.22/2=$0.11
Repeat this process for each ingredient on your list.
Step 4: Add Up the Costs
Add the individual costs of all the ingredients to find the total cost of the recipe.
Step 5: Divide by Servings (Optional)
If you’d like to know the cost per serving, divide the total cost by the number of servings in the recipe.
Step 6: Consider Additional Costs (Optional)
If you want a more comprehensive analysis, consider other costs, such as electricity or gas for cooking and water for washing the utensils.
Let’s break down the cost of my tofu lettuce wraps recipe. Please note that the costs of the ingredients can vary based on location and store, but we’ll use general average prices to get an approximate total.
Ingredients Cost:
- Tofu, ¼ pound: A 1-pound package costs around $2.00, so ¼ pound would be $2.00/4=$0.50$2.00/4=$0.50.
- Carrot, ¼ peeled and matchstick sliced: A whole carrot costs approximately $0.10, so ¼ of a carrot would be $0.10/4=$0.03$0.10/4=$0.03.
- 1 Radish, matchstick sliced: A bunch of radishes might cost around $1.50, and if there are 15 radishes in a bunch, one radish would be $1.50/15=$0.10$1.50/15=$0.10.
- 1 Green Onion, thinly sliced: Green onions might cost $1.00 for a bunch of 6, so one would cost $1.00/6=$0.17$1.00/6=$0.17.
- 2 Teaspoons Vegetable Oil: A 48-ounce bottle might cost $2.50, and there are 96 teaspoons in 48 ounces, so 2 teaspoons would be $2.50/96∗2=$0.05$2.50/96∗2=$0.05.
- 6-8 Leaves Butter Lettuce: A head of butter lettuce might cost around $2.00, and if it contains 12 leaves, 8 leaves would be $2.00/12∗8=$1.33$2.00/12∗8=$1.33.
- 1 Clove Garlic, minced: A bulb of garlic costs around $0.50, and if it contains 10 cloves, one clove would be $0.50/10=$0.05$0.50/10=$0.05.
- ½ Teaspoon Fresh Ginger, peeled and minced: Fresh ginger might cost $1.00 per 4 ounces, and if 1 ounce equates to 6 teaspoons, then ½ teaspoon would be $1.00/24=$0.04$1.00/24=$0.04.
- 1 Tablespoon Soy Sauce: A 15-ounce bottle might cost $2.00, so 1 tablespoon would be $2.00/30=$0.07$2.00/30=$0.07.
- 2 Teaspoons Sesame Oil: A 5-ounce bottle might cost $3.00, so 2 teaspoons would be $3.00/10∗2=$0.60$3.00/10∗2=$0.60.
- ½ Teaspoon Rice Vinegar: A 12-ounce bottle might cost $1.50, so ½ teaspoon would be $1.50/24=$0.06$1.50/24=$0.06.
- 1 Teaspoon Brown Sugar: A 2-pound bag might cost $1.50, so 1 teaspoon would be approximately $1.50/96=$0.02$1.50/96=$0.02.
- ¼ Teaspoon Ground Black Pepper: A 2-ounce jar might cost $2.50, so ¼ teaspoon would be $2.50/24=$0.10$2.50/24=$0.10.
- ⅛ Teaspoon Mustard Powder: A 1.5-ounce jar might cost $3.00, so ⅛ teaspoon would be $3.00/24/2=$0.06$3.00/24/2=$0.06.
Total Cost:
Adding all the costs, we get:
$0.50+$0.03+$0.10+$0.17+$0.05+$1.33+$0.05+$0.04+$0.07+$0.60+$0.06+$0.02+$0.10+$0.06=$3.18$0.50+$0.03+$0.10+$0.17+$0.05+$1.33+$0.05+$0.04+$0.07+$0.60+$0.06+$0.02+$0.10+$0.06=$3.18
The total cost to make these tofu tacos would be approximately $3.18. Its sure is less than eating out and this was based on making just 3 lettuce wraps so you could easily get 4 out of the recipe making it even more cost effective.
These calculations are based on average prices and could vary significantly depending on where and how you purchase your ingredients. Always keep an eye on current prices and seasonal variations to get the most accurate cost for your recipes!