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Default names and drop down lists

I am fairly ignorant of the more complicated aspects of Excel so I hope I can
get help with this problem.
I have a sheet with column C for quantity , column D for items and column E
for the cost. In column D I defined a drop down list with various materials
that we sell. I made each item in the list a Name which referred to a
specific value (e.g. safety glasses refers to $3). I want to create a formula
for each cell in column E which would be the product of column C times
whatever the value represented by the name chosen in column D.
Seems like this should be possible, but I have no idea how. Also I need to
formula to work on every cell in column E referring to the cells C and D in
the same row.

Thanks,

Nick
 
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