With MediaConvert a single minute of video encoding costs $0.03 for each video quality at 720p and above and $0.015 for each video quality below 720p. That way, if you encode at 1080p, 720p, 540p, 360p and 240p you pay - $0.105 per minute which is $6.3 per hour. That is actually the same as Elastic Transcoder. The prices differ from region to region too, you can check that here:
However, if you use the System-Avc_ encoding presets, these actually use the 2 pass encoding ("Quality tuning level" is set to "MULTI_PASS_HQ" ) which is more expensive - $0.084 for 4K video, $0.042 for each video quality at 720p and above and $0.021 for each quality below 720p. That way, if you encode at 1080p, 720p, 540p, 360p and 240p you pay - $0.147 per minute which is $8.82 per hour. That is the Professional Tier which also gives you the DRM.
