Facebook Ads budget question (why does this feel scammy?)

I need some insight on a Facebook ad I just ran.

So here's what happened ....

I am in a very large hobby niche and our Facebook page has 140,000 likes --- and those are real likes, not the phony ones generated through outsourcing. These are all legitimate fans.

I ran an ad for our new product and had it displayed only to people who have liked our page.

We were going to do a one-day test on this, so we set a budget for $350, and for various reasons we didn't get the ad to show live until mid-afternoon.

So the ad ran and we got 127 clicks with a total ad spend of about $200. It came out to nearly $2.00 per click, which seems awfully high.

It's almost as if Facebook takes your daily budget and makes sure that budget gets maxed out.

Is that an unreasonable suspicion on my part, that they just make sure you spend whatever you budgeted?

What we're planning to do is run another one-day test and set the daily budget for $50 and see if that brings down the CPC.

Any thoughts on this? Please share your insights.

Also, please pass along any recommended course on Facebook advertising. I'm determined to make this work. We already have a very successful business with nearly all of our traffic coming from YouTube but would like to get more legs underneath the traffic table, so to speak.

Thanks for your help.