The time taken is around 4 hours to treat more than 50 colonies in 3 yards multiplied by 12 or 13 times a year at a very reasonable cost
And therein lies the key metric, how much do you value your time? 4 hours a dozen times is 48 hours spent treating 50 colonies, so close enough to call it an hour per colony. So it depends now on how much you value your time. If your time has zero value, then it's a low cost. OTOH, if you place a value on your time, it becomes a very substantial cost, and if you are using hired help, then it becomes a very real cost.
Oxalic Acid Dihidrate is inexpensive to purchase, I've got a 1 kilo container on my desk that cost $15 or so a couple weeks ago, so at 2 grams a shot (that's what the label says to use when you buy it in Canada) that works out to 750 rounds out of that tub, which works out to 2 cents per application for material cost, ie, pocket change. For your 50 colonies it's a dollar per round for an oxalic treatment for the actual acid, you probably spend a lot more than that on gas going from yard to yard. And there in lies the issue, the costs folks do not account for.
Oxalic acid is an inexpensive mite treatment, but, it's very labor intensive to apply multiple times. My 1 kilo tub of OA will do your 50 colonies a dozen times with a bit left over. Minimum wage here is $14.60 an hour. At 48 hours that's a cost of $700 for labor by the time it's in the colonies vaporized, and I have not yet accounted for the costs of getting a 110v plug out to those yards to run the vaporizer. If you have to pay for labor, then in the end, oxalic acid is no less expensive than strips but you just pay it at the payroll instead of at the supply store. If you are not counting your time as a cost, then the value in doing a round of oxalic acid vaporizing is essentially 'sweat equity' in the beehives.