In 2017, Welty & Sons, a small environmental-testing firm, performed 10,800 radon tests for $320 each and 15,800 lead tests for $240 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 10% next year. However, awareness of radon-related health hazards is expected to result in a 4% increase in radon-test volume each year in the near future, Jim Welty feels that if he lowers his price for lead testing to $220 per test, he will have to face only a 7% decline in lead-test sales in 2018. In 2017, Welty & Sons, a small environmental testing firm, performed 10,800 radon tests for $320 each an year. However, awareness of radon-related health hazards is expected to result in a 4% increase in radon- decline in lead-test sales in 2018. Read the requirements. Requirement 1. Prepare the sales budget for Welty & Sons assuming that prices are held at 2017 levels. Sales Budget For the Year Ended December 31, 2018 Total revenues Radon tests Lead tests Total Requirement 2. Prepare the sales budget assuming that Welty lowers the price of a lead test to $220. Sales Budget For the Year Ended December 31, 2018 Total revenues Radon tests Lead tests Total Welty lower the price of a lead test in 2018 If its goal is to maximize sales revenue. Requirements 1. Prepare a 2018 sales budget for Welty & Sons assuming that Welty holds prices at 2017 levels. 2. Prepare a 2018 sales budget for Welty & Sons assuming that Welty lowers the price of a lead test to $220. Should Welty lower the price of a lead test in 2016 if the company's goal is to maximize sales revenue? Print Done