Markets and overhead can vary which will affect your price. My advice is to calculate the cost of materials and add your markup to it (you have to remember that it takes time and organization to order those materials). We really hurt our trade when we give away materials for our wholesale cost.

Then calculate the amount of time the job will take and how much you must make per hour for it to be worth your time. Anything less, simply isn't worth our time and in the end hurts ourselves and our trade.

In the upholstery business we don't have automated computer systems that calculate all these things and we end up calculating a price on the top of our head. In turn we tend to think of jobs in a grand total sort of way instead of breaking down all of our business costs. But if we take time to calculate these things then we come to a price that is fair for our customers, but also fair for us.

I will double wholesale but pay shipping; or add shipping and wholesale and multiply by 1.67; or if I have to order a minimum amount and think i can use some on a future job, I'll charge what it cost me and keep the unused portion to sell to the next customer.

I had gone to a machine shop to have engine work done and the invoice noted shipping for ordered parts as a separate charge. Why not, it's a cost.
I don't know what you charge for labor, but add that to the cost X2 for the materials. Then add the shipping. Also, since leather is not uniform like vinyl, there's more waste so add about 10% on the SF amount.
A customer who asks for leather should be able to afford it.
Oh, and very, very important, when you give the quote, look like you mean it, most customers are smart enough to catch a wavering stance. It says, I can be haggled with. Like when your girlfriend says no, but it doesn't show on her face, the guy always takes that as an opportunity to press the issue.

I get 20% waste per hide so a 45
sqft hide is 36 sqft usable. That equals slightly less that 3 yards of vinyl (about 40.5 sqft).
Thats $180 to 225 of leather vs $45 for vinyl
We get $600-700 for one bucket seat in vinyl and $1000-1100 in leather.

Kevin Balser...where are you located? Just wondering

Location definitely makes a difference on pricing. But so does Quality, Demand, and Shops near by... I see why you're asking him about location. Might have the quality but your location kills what you can charge sometimes. Im in that boat right now.