I worked for the owner of a small fab/machining shop for 15 years, started out as a welder and finished as manager of the shop. I quoted many jobs, while we didn't do much sanitary I would ask you this, are you required to polish the ID/OD of the weld? I would guess so.
We did a lot of SST tubing for the semi conductor industry but the welds were flanges to tube, the welds were required to be helium leak tight, and the tubes were polished, and the finished part was electropolished, my point is these are premium components. I did listen to the podcast your referring to and smiled as I listen to this being discussed.
As a baseline we would markup the material anywhere from 50 to 100% and shop rate of $75 per hour. Now of course there are still many variable's, are you being asked to quote 1-5 parts or 20 or 50? Sometimes one customer in particular would ask for 1 part which may include CNC machining and welding, I knew it would be very expensive and in the quote I included pricing for 1, 2 and 3-5 to let them see the cost savings, sometimes it worked and they bought more then 1. Even if they didn't I was showing them potential cost savings and that I was looking out for their best interest, building relationships.
Good topic, I look forward to the podcasts, thanks
To avoid criticism, do nothing, say nothing, be nothing...sounds boring to me