WavePad is going to provide you the option to Save as and you would need to select the format, but is not going to allow you to do an specific selection for the Codec encoder, even not all the formats have the same specifications, so you would need to check then. About the Video, you can try using VideoPad that allow you to select the format for the Video Speed and compression but also you would need to check the format of the exporting video.
If you need and specific help with any project you can try summit the TT here: https://www.nch.com.au/support/ And the Technical Team is going to help you.