The XACT runtime requires XGS, XSB and XWB files which are created from the XAP during build - either through the XACT GUI, the xactbld.exe command line tool or the Content Pipelines XACT build task.
The XACT GUI usually builds these files into the folders specified in the XAP, which point to a relative sub folder and hence require some copy operations during build.
On the command line you can overwrite the paths specified in the XAP file to build into the proper debug or release directories.
To use the Content Pipeline (CP) the XAP needs to be within the content sub-project and the load paths in your game need to start with the Content base directory ("Content" in the default configuration), e.g. the above wave bank will be "Content\Audio\WaveBank.xwb".
Using the the CP is the easiest as it will rebuild the files when the XAP has been changed and the binaries are properly coypied without user interaction.
We are boki. The rest is known.
The not so known part of the rest: It is
Björn or Bjoern, but never Bjorn.
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Allow use of non-ASCII characters in names and titles