A spread sheet is a useful tool for figuring in the cost per round. I use real world prices for all components, but do make allowance for reuse of brass. For 44-40s with brass usage at 5xs, the current cost ( it will vary a bit when different suppliers' costs are used ) for a box of 50 is approximately $16. Factoring in initial cost of brass, the 1st round cost is approx $28 per 50.
Primer: Most recent cost-Natchez @ $122.50 per 1,000 (taxes, charges) or $.1225 a piece - $ 6.125
Brass: Most recent cost-Starline @ $151 per 500 or $.302 a piece-( 5xs = .0604 a piece ) - $ 3.02
Bullets: Most recent cost-Cheycast @ $115 per 1,000 or $.115 a piece - $ 5.75
Powder: Titegroup 4 lbs ( Mid South) ( using 5.4 grs per round ) @ 123.53 or $.024 apiece - $ 1.20
There will be, as stated above, differences due to suppliers used and holding gains, which translate out to lower cost. Of note, Starline shows no back orders available for 44-40 brass and primers and powder are a "catch as catch can" situation. The last time I calculated the cost, in July, the cost per 50 rds was approximately $12.35. Getting more expensive, but still well below factory ammo, if you can find it.