Adobe Premier Elements 10 editing

If I’m using Adobe Premier Elements 10 and want to add a voiceover to my video can I do this using Audacity? I’ve never used Audacity but a friend told me about it and I just want to know if I have video in Adobe Premier Elements 10 and than I want to have a voiceover that has been edited over my video footage is it possible to do this? Does Audacity let you edit your voice levels the way Adobe Audition does so that levels are even and you can make them louder or more quiet? If you can do this how do you upload it onto Adobe Premier Elements 10?

Thanks for the help!

The basic method would be to create your audio in Audacity, Export it as a WAV file (File menu > Export > Audio) then import the WAV file into Elements.

Audacity allows you to alter the level of the audio in a track. One way (there are others) is to use the Envelope Tool: