Methods and systems for determining prices of customized virtual machines required to process customer-specified workloads are disclosed. A count of instances of the customized virtual machines, required to process the customer-specified workloads is determined, based on a configuration of the customized virtual machines. The instances of the customized virtual machines are consolidated on virtual machine servers. Further, the prices of the customized virtual machines are determined based on a count of the virtual machine servers, unused resources in the virtual machine servers, and unused resources in the customized virtual machines. The determined prices are recommended to the customer. Further, at least one of the prices of the customized virtual machines or the configuration of at least one or more customized virtual machines is modified, based on a response to the recommendation received from the customer.