I commonly use the formula of materials x 3 to price items. If the piece is more complex, it's materials x 4. If it includes a lot of hardware I add that in afterward. Hardware can be very expensive so having it included in the muliplier can make the project price very high.
Although you mill your own wood, you should be able to find what its fair market value is. Use that as a price for your multiplier.
The next step is figuring out how much you have to make per hour. Not you personally, but your business. So, I take the cost of materials x 3 and get a total price. Then I subtract from that price the cost of material. That leaves me a number that should cover labor. The question I then ask myself is "Can I build it for that price?" "How long do I think it will take?"
This formula doesn't work well on small items. You may only have a few dollars worth of material in a project, but it takes a few hours to build. You have to use your instint on these items.
When you're starting out I think it's good to keep your prices down to get your name out there, but you can't work for free. If you're doing nice work, you need to hold on to the idea that people will be willing to pay for it.
Pricing can be difficult. Be sure you're being fair to yourself.