Batch conversion quandary

I reripped a bunch of my CDs in Apple lossless for use with my home theater computer (there were 128 kb/s before). Now, I want to batch convert those from ALAC to 256 kb/s for my iPod and iPhone. I put all of these ALAC songs into a playlist, but the only conversion in iTunes is for ALAC. The "Create Version" options for iPhone, iPod, iPad and Apple TV are not available. In the "old days" one could use iTunes to export at user-defined bit rates and codecs, but the latest versions do not seem to do this.

Of course, I could do one at a time using Quicktime, but I'd much rather just batch process the entire playlist. Any suggestions as to how to do this?

 

I sorted it out. It was easy once I understood the menu option simply reflected the default import setting.