What is a normal / reasonable budget for a 5 yo birthday party? And do you invite everybody at your class, or just some of the friends?

I am looking into hosting a pottery painting party for my will-be 5 year old, and there are two options, $15 or $19 @ kid. The only difference is on the pottery selection they will be painting ($19 they can choose to paint a cup, while $15 they will paint a selection of not as cute figurines). I am leaning toward $19 because at least the kids can use the mug rather than creating a bunch of useless figurines. Say I have 12-15 kids, that will be $228-285. Nothing else is included.I am thinking of hosting an afternoon party so I don't have to serve full on lunch (which sucked anyway).

I am referencing a party we had 2 years ago:
Cake+candles: $50
Veggie+Fruit: $24
favors+plates: $55
$10 juice, water bottles
Cards (DIY): $25 (or maybe $0 if I do it digitally!)
Popcorn, cheese sticks and what not: $20?

So that will be an additional $184. The venue suggests us to ask the parents to drop off the kids, so maybe that would help with lowering the cost. The party will end up to be a total of $412-469.

Is that reasonable or on the expensive side? How much did you spend on your party?

I would love to do a party at home but we don't have a big yard, plus it will be in the middle on winter and I just don't want to add the stress.