Yes we know, but all meters whether hand held or in camera work the same, its knowing when to under or over expose for correct rendition of the subject matter.
The bag is black, point your camera at it for a reading, this will show you the exposure, say 1/60 at F5.6, for what the camera says is correct. As we now know the camera is reading this as a mid tone 18% grey (not black) then we need to either dial in compensation or manually alter camera settings to achieve the black color, there are two ways, change shutter speed or aperture, switch the camera to manual and underexpose by a stop (sometimes 2 or even 3) by a stop I mean alter one of the settings, so you would end up with 1/120-125 shutter while aperture would remain at F5.6, for the same exposure, but for greater DOF, you would alter aperture, so your setting would be F8 at 1/60 for the same exposure. This for dark subjects only.
Overly bright subjects such as snow, white satin dresses etc, need overexposure, meter from the white would give say 1/1000 S. Speed at F5.6
(This all depends on the overall brightness of a scene and these numbers are for example only)
To overexpose in this case, you either lower the shutter speed, keeping the same aperture (IE=1/500 at F5.6) or for greater DOF again, reduce the aperture to F8 while keeping the SS to 1/1000 second.
All of this depends totally on the relative brightness or darkness of the overall scene, if its really bright sunny day photographing a snow scene then its possible you would need to overexpose up to 3 stops, similarly, dark subject dark scene.
Personally if unsure of the settings required for correct rendition, then do three shots at different settings, but only changing one of the values, overexposure settings would be from 1/1000 -1/500-1/250-1/125 second respectively, underexposure would be in the opposite direction. H