$1200 is about right for OEM parts.

If its a full rebuild this is what i charge for an NA build with OEM parts:
B16 PR3 pistons (11.5:1) -$185
ACL Race Bearings-$100
OEM Parts (headgasket, timing belt, WP, Oil Pump, lower seal kit)-$350
ARP Rod Bolts 9mm-$55
Balance Crank, Rods, Pistons, Install Rod Bolts-$250 (thats what the machine shop charges)
I usually include valve stem seals, and cam seals, valve cover gasket as well
Labor to build $600
TOTAL:$1540

That is a str8 forward rebuild. However, that is no machine work to the block. Thats a rebuild without taking the motor out. If your block is out or round, then it has to be pulled and machine work done to it which can run another $500 (labor and machine work).

$1200 isnt bad, mine is probably more cause i use more expensive bearings and rod bolts and i recondition the rods.