With respect, I disagree. I recently renewed my expired instructor rating at YPJT (due to the many uncertainties involved with the Part 61 implementation). That exercise - which involved 2.6 hours flying in a C152 (1.3 practice + 1.3 for the test) cost $1030.
In fact you did well. I did the same thing in Melbourne (instructor renewal) which was 1.2 VDO (0.8 actual flight) in a C172 and forked out just under $800 which included ATO fee and $55 for one landing fee. ATC held us at the holding point for 10 minutes awaiting other traffic.
I remember the days when at Moorabbin, a pilot and his Warrior would tout for business at the fence near the tower and the pilot would dress in normal clothes (he wore a cravat I think) without all this white shirt, big wings and three gold bars nonsense. Pay on the spot, no receipt, hop over the fence or go through the gate and get airborne for one circuit. Next please. The kids loved it and some got the flying bug after that.