I can get two cubic yards of mulch in my pickup and I drive around the yard dispersing it directly into the beds. That is easier for me than dragging bags around. Here in Tampa the price is about the same. A 2 cubic foot bag costs $1.79 or $24.16 a yard while I can get a yard dumped into the truck for $24. I use pine bark nuggets, a by-product of the paper industry. Cypress are native and valuable here so I don't use them. I'll have to think about the bagged stuff being more compact. I can see how you could get a lot more that way.
Jim