The "Audio Format" panel and "Output Directory" Panel are located on the bottom of the window. Click on the to the left to expand each setting panel for additional options.
"Audio Format" panel contains the audio format information. You may choose the output format and its associated settings there.
"Output Directory" panel determines the output file path.
Audio Converter Pro Only
"Selected File" panel
In Audio Converter Pro, when a file is selected in the conversion list, an additional panel shows up as "Selected File".