Final Project Hanging Cabinet Cost

I think I want my cabinet to have two levels/shelves, possibly with spice racks inside the door as shown below:


The top, middle shelf and base can be built using 1x8 pine lumber and the spice racks can be made out of 1x4. The sides can use 1/2"-1" thick plywood paneling and the door can be made from a combination of paneling and 1x4. With all this plus screws, shelf clips, two self-closing hinges and a knob, I can't see the total cost coming out to more than $50.