Ok, here is my actual (raw cost - without a profit markup) estimating numbers for an 8.5 x 11 4-color 1-sided for done two ways (1 as a 1-up 8.5 x 11 and then as a 2-up on 11 x 17)
10,000 1-up 8 1/2 x 11: (My color machines are Xerox 8002)
Paper - 8.5 x 11 60# White Smooth Offset - 10,000 sheets at $0.00909/sheet = $90.90
Graphic Arts - Laser Setup $75.00/hr - 1-hr
Color Click Charge ($0.075) (my actual click chrg is $0.05698, but, you need to account for sales tax, service fees, and the machine payment) = $750
Laser Run Charge $0.02/side per sheet (10,000 sheets) = $200.00
Total = $1,115.90 (about 11.2-cents each)
10,000 2-up 11 x 17: (My color machines are Xerox 8002)
Paper - 11 x 17 60# White Smooth Offset - 5,000 sheets at $0.01866/sheet = $93.30
Graphic Arts - Laser Setup $75.00/hr - 1-hr
Color Click Charge (5,000 sheets) ($0.075) (my actual click chrg is $0.05698, but, you need to account for sales tax, service fees, and the machine payment) = $375
Laser Run Charge $0.04/side per sheet (5,000 sheets) = $200.00
Cut (bust-cust) to 8.5 x 11 at $0.005/sheet (5,000 sheets) = $25
Total = $768.30 (about $0.077/ech)