I know this seems like it should be obvious; calculating bread dough hydration isn't rocket science. My recipe is 600 g of flour, 270 g of water, 57 g of butter, 46 g of honey, 1.5 tsp of salt, 2 tsp of yeast.  Salt and yeast are in tsp because at those light weights, there's a significant difference in volume in fractional grams but the idea is 6g of yeast and 7g of salt. I've read that butter and honey both have about 18% water so I add that to the water and I end up with 48% hydration.  Everything I read says this is way too low.  The dough in the bread machine seems very moist and is quite sticky.  I used a batch for making  hamburger buns, using the dough cycle, and it was so sticky and wet I couldn't work with it.  But baked in the machine, the bread comes out pretty good, rising to within 1/2 inch of the machine lid and it holds up well to slicing, sandwiches, etc. So, what gives?  Is my calculation wrong or is there some reason I'm succeeding at 48% and, at 48%, the dough is very wet and sticky? I also make sour dough bread at higher hydration, about 60%, without the breadmaker but it is never as sticky as the bread machine recipe - using the same flour.  The flour is Montana All Purpose Flour - a premium flour sold at Walmart. Is this experience normal or am I doing, measuring, calculating, something wrong? 
Yes, you're calculating it right, it's the flour that makes the difference. Hydration percent will give you a different result with different flours. Gluten content and grain type and grind (i.e. fine vs course) all influence how much water a dough will absorb. You are using white AP (i.e. plain) flour which has a lower gluten content than bread flour, if you used bread flour or whole wheat instead you'd get a drier dough with the same percentage of hydration. 