Google Glass' hefty $1,500 price tag has long been criticized for being too, well, exorbitant. And now, that does appear to be the case.

Tech intelligence website Teardown.com, a subsidiary of IP consultant group TechInsights, took apart Google Glass to put a price on how much Glass' tiny, custom parts contribute to the sticker price of $1,500. And it's assumed that Google, Inc. included other costs such as research in its price.

The latest estimate from Teardown.com reveals the price of Google Glass's bill of materials or BOM at just $79.78. Where did the balance of $1,420.22 go to?

Google's not saying but the Teardown.com estimate prompted an immediate response from Google's spokesperson, who derided the estimate as "absolutely wrong."

Media reports said the Teardown.com's estimates seem reasonable on a wholesale basis, which is how companies order their raw materials. The investigative website placed the cost of the 5 MP camera at $5.66; the processor at $13.96; 16 GB of NAND memory at $8.18 and the high-PPI display/touchscreen and glass at $3, among others.

The estimate for the display/touchscreen, which seems on the low end, has raised questions about the accuracy of Teardown.com's estimates.

In response, Teardown.com explained that its estimated price was for an imager about the size of a dime that creates the display itself. Adding a simple prism projection rig to that imager increases the total display price estimate to some $5.

The prices for the rest of the materials such as Texas Instruments chips like the OMAP4430. fluctuate based on totals ordered. Teardown.com estimates that the maximum BOM could reach $90 to $95.