Cut wood to shape. In my case, it was approximately 7.25" x 11.25". Poplar was chosen as it was readily available, has a fairly tight grain, and took the stain in a relatively uniform pattern.
Estimated time: 5 minutes
The entire top surface was treated with a dark stain.
All four edges were routed with a 1/4" rounder bit. These edges were then treated with a lighter stain in order to contrast with the surface color.
The top surface and sides were coated with satin polyurethane and, when dry, sanded with 400 grit. This was repeated three more times until the surface was smooth and had a nice, matte finish.
Estimated time: 60 minutes
Easel was used to engrave the printing. I didn't time it, but the process took a couple of hours as much of the work was with a small bit.
In the process of figuring this out, I broke five bits (all about 1/32"). I would strongly recommend stocking up on these bits as they are fragile and I may still not have my milling parameters right.
Estimated time: 120 minutes