If you do not own any weapon or armor modifications applicable to an item, it will be marked in red. To modify weapons and armor, you'll first have to choose from a selection of available weapons and armor you have in your inventory (note that equipped weapons, like Varric's crossbow Bianca, only appear when you have selected that character). The same holds true for weapon and armor modifications that can also be crafted at this table. When you have enough materials, you can place the desired amount into each slot - note that different kinds of metal produce different stat bonuses for your items.
You'll also need to search the wilderness for Crafting Materials such as metal, leather, and cloth. To craft weapons and armor, you'll need to locate or purchase Weapon Schematics and Armor Schematics found across the land.
These tables are used for Crafting Weapons, Crafting Armor, Modifying Weapons, and Modifying Armor. There are four tables related to crafting and modifying items.