The Shipping area lets you edit the following areas: Shipping Method, Status (Enabled or Disabled) and Sort Order.
It also shows a few actions that can be done, including Install, Edit and Uninstall
If you want the same price for each item (like $5 per item) you can use the included “per-item” shipping extension in the extension->shipping area. That just takes all items in the cart and multiplies by the rate.
The areas to fill out are: