Here's a breakdown of my expenses during my short visit to Cebu:
P600 - Overnight Anthurium Inn in Mactan
P450 - Overnight in Tan-awan
P218 - Transportation around Cebu City
P424 - Food & water
P149 - Non-aircon bus to Oslob
P60 - Aircon bus to Bato
P15 - Non-aircon bus to Ginatilan from Bato
P10 - Entrance fee to Inambakan & Bugnawan Falls
P80 - Habal-habal round trip ride to Inambakan Falls
P60 - Aircon bus to Bato from Ginatilan
P20 - Non-aircon bus to Oslob from Bato
P500 - Whale shark interaction with snorkeling gear
P140 - Trip to Tumalog Falls
P155 - Aircon bus to Cebu City from Oslob
P100 - Airport transfer
P2,981 - Total expenses for 3 days and 2 nights trip to south Cebu
*P1,340 - Airfare and Mactan Airport terminal fee
*P4,321 - Total expenses including airfare and terminal fee
Again, you will reduce your costs depending on where you stay, where you eat, and what you do. I always try to fit in as many places as I can whenever I travel because I might not be able to return for one reason or another and I'm only staying for a short time. If I had stayed longer, I wouldn't move around so much darting from one place to another.
Itinerary
Day 1
Bus to Tan-awan, Oslob
Bus to Ginatilan
Inambakan Falls
Bugnawan Falls
Day 2
Whale shark interaction
Tumalog Falls
Bus to Cebu City
City tour (Magellan's Cross, Lapu-Lapu Shrine, Plaza Independencia, Fort San Pedro, Heritage Houses)
Day 3
Flight back to Manila
Around South Cebu
The places I visited were far from each other. Cebu City to Tan-awan, Oslob takes 3 to 4 hours and from Tan-awan, Oslob to Bato and Ginatilan takes approximately 30 minutes to more than an hour of travel. Despite the distance, there are several non-aircon and aircon buses that go to these places. The last trip of the buses are at 9PM.
Accommodations in South Cebu
I really can't speak for the other accommodations in Cebu other than the ones I stayed in. Anthurium Inn is close to the airport but out of the way and hard to get to. The room I stayed in was basic and quiet it did its job for an overnight stay. You can reach them through 09228926685.
Chateau de Tan-awan was a house turned into guest house. It is owned by an American and his wife. The room I got was basic and good enough to sleep in since I was out for most of the day anyway. They also served meals for P100 breakfast and P125 dinner. The servings were large and came with dessert. There are several resorts along the highway that offer accommodations and whale shark interaction just take your pick. You can reach Chateau de Tan-awan through 09327733438 or 09232841008. Chateau de Tan-awan also offers tours to Sumilon Island and whale shark interaction for P500 each.