|You can set up a table with your products in the first column and the corresponding price in the second column.|
Let's say your table is in O1:P7
1 3/4" Oak Ply $x.xx
2 3/4" Birch Ply $y.yy
Let's say your drop down is in B6
In H6 use:
See the Excel Help files on VLOOKUP for more information.