Render to Mp3

I am Diego LaVarre, intern at Big K’s Digital Audio Studio.
I have this question, I hope to get some help from you:
Is it possible to render Songs as mp3 files from within an audio montage?
Sorry for that newbie question. I am probably to green to find it.
Cheers Diego

In the render tab, select the output file format as MP3. You have choices of either 128 or 320 - probably more, I have only ever used these 2