Play MKV on iPhone 5?

I had downloaded some funny mkv videos and want to play them with my iPhone 5. When I import my .mkv videos, it seems iphone 5 can't accept mkv format. My friends suggest me try to use macx video converter pro to convert mkv to mp4 to play on iphone. During using the software, I found that I could also adjust the video and audio settings to get more better video quality, like frame rate, bit rate, aspect ratio, resolution, audio codec, sample rate, etc. But I’m totally confused about these parameters since I do not know which audio and video parameters fit my iphone best. Help!!!

via Forums de téléphone cellulaire (en français) http://cellphoneforums.net/fr/apple-iphone/t363325-play-mkv-on-iphone-5.html