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You know there is a Product Code for each Material/Gauge right? How do you envisage that working and tie up to a price list and then onto a fabricated item? The only way I could see way that the price list contained the price per sheet and then that is divided out by the sheet size to give the Cost per pound
I would think that your logic is collecting cost per pound from the material tables and applying it to the items. I was thinking more like giving the option to use a price table and collecting the cost per pound from the table.
For coiled metal the sheet sizes are typically just for nesting, but if we buy metal by the by coil or by sheet we buy it by the pound.
Now for insulation we will need cost per square foot.
You may need to develop a different type of table for these materials. One table would be nice for all manufactured materials, but if you have to make one for Metal and one for insulation that would be ok.