Here are a couple of good articles with specific ideas for what to charge for songs commissioned for various projects:
http://www.randallgiles.org/commissioning.html
and
http://www.meetthecomposer.org/files/co ... -music.pdf
It's easy to undercharge when first starting out. If we begin to charge what we are worth as we hone our craft as songwriters, we not only benefit ourselves, but also the entire community of composers as a whole. So I say -- let's pay ourselves and our fellow songwriters well (Rah! Rah! Sis Boom Bah!)

Enjoy!
Suz