Results may vary depending on % solids, model surface, temperature and other variables, but here is an estimated coverage rate for latex:
The density of the latex is .92g/cc, and has a 30 in³/lb specific volume.
One pound of latex when dry only yields 19.2 in³/lb. due to evaporation.
One pound of latex at 1/16" yields 307 in² or 2.13 ft²