4 x 4.75 = 19 inches.

If you want to add five rows between each letter, that would be 15 extra squares, so about 1 extra inch.

That gives you a working area of 20 inches x 4.75 inches.

I like to leave at least 2" space all the way around. If you like to leave more, you'll need to add more, but going with 2 inches all the way around your fabric should be at least 24 inches by 8.75 inches.

Use 27" long 12" wide. That leaves 3" around and I calculated 5 spaces between each letter.
It actuall comes out 26 11/64" x 11" I rounded up. I am editing this just to note that your image will
be 20 3/16" x 4 3/4", I was being generous around the image.

Thanks for the info. Guess I have to order more fabric.

Carissa, do you subscribe to Cross Stitch Crazy and if you do how much is it? Pam Hey, I am just here for moral support! unfortunately not a math problem solver Pam

It might help if you chart your pattern using graph paper. Also, you need to decide how many letters in each row. Is each letter exactly the same width> Stitching a W would be wider than stitching an A.

I'm with Nancye G, use graph paper and pencil out your letters first. It will give you a good idea of the finished result. After looking at your graph, you may decide to change a few things. I have done 13 stockings and often changed the spacing on the letters in the names, sometimes even the "font". It will also help you with your stitch count and thus the total size.

They are all the same width. At least the pattern says so.

Just to be absolutely certain that you look carefully at the pattern itself; not just what the description says. I have not seen the pattern so my opinion and fifty cents won't even buy you one skein of floss! (Yes, I am being silly -- haven't had much sleep the past couple of days)