Guys, thanks for the responses on drywall repair prices. I feel better now knowing that prices given were inline (and sometimes lower) with what you're paying. 
I'm not that busy all the time, and if this happened 2-3 weeks ago I would have done the work myself. I can work full day and not make $300-500. This drywall repair seems like easy money at that price.
Thing is that I'm busy for next few weeks, so I needed someone to handle this.
Client is happy with repairs (guy showed up 7am and was done before 11am.
Waiting for invoice to see what the final bill is going to be.