Willing buyer and willing seller concept!
At most the only breakdown I will give is
Production and Post production breakdown......

Production means the process of recording evrything and documenting everything

Post-production, is your rough breakdown of Offline edits and Online edits, how many versions of offline edits you give them before you start charging them for any additional changes and tweeks... and same goes to online....

That my friend, is a question that you should be asking yourself.
Take these few questions into considerations.

-What am I doing?
-Is this just a hobby/pocket money?
-Is this worth my time and effort?
-How do I position myself?

Take on on "is it worth the time and effort". It all really depends on what exactly you're doing? IMHO, I'd consider it to be too low, but other may have a totally different opinion. For example, I charged RM1000 to edit a short corporate video/advert for internal circulation, just because I was bored, and a friend asked for a favour. And this was just post-production alone. I can't suggest any benchmark because I don't know what your client requires you to do. lol.

For a breakdown this is what i got from a proper small productions company:

A. Production (creative)
    1. Cameraman 1 (operator & director)
    2. Cameraman 2 (operator & audio)

Cost around RM 800.00 (if 1 man operator can charge half more or less) per day

B. Equipment
    1. Sony NXCAM NEX-FS700R
    2. Canon 5D Mark III
    3. Canon 5D Mark II
    4. Full set of tripods
    5. Glidecam HD2000 & Slider
    6. GoPro Hero 3+ Black (Timelapse)
    7. Cordless Mic
    8. Phantom 3 Professional w/ Pilot (Aerial footage)

Cost around RM 1,200.00 (can be break down per equipment depends on the need) per day

C. Post-Production & Mastering
    Off-line, On-line & Audio
    1. Off-line & On-line editing w/ 3x amendments
    2. Final sound dubbing, mixing & mastering (final material will be in soft copy)

Cost around RM 500.00 (this is for behind the scene footage use only, charges may vary)

Total cost per day should be RM 2,500.00 (excluding editing)
You can use this as a guideline
RM 500.00 is way too cheap for production and post in my opinion and amendments until satisfaction achieved will cost your time as well
+1 and to me your price quite reasonable if em0kia want to let his client make amendments edit until satisfaction achieved (which i think should be limited due to time and effort base factor)..

Really? damn! confirm market spoiled! lol, but then it revolves back to "willing buyer-willing seller" phrase.
I won't call my self a professional, but more of an enthusiast or an hobbyist hehe

glad you find this informative.. am still learning as well.. i follow a few friends doing productions work just to gain experience only.. not a sifu or anything.. i too use this as a guidelines..