2 (Prepared from a situation suggested by Professor John W. Hardy) Lone Star Meat Packers is a major processor of beef and other meat products. The company has a large amount of T-bone steak on hand, and it is trying to decide whether to sell the T-bone steaks as they are initially cut or to process them further into filet mignon and the New York cut if the T-bone steaks are sold as initially cut the company figures that a 1 pound T-bone steak would yield the following profit 544424 Selling price (52.16 per pound) joint costs incurred up to the split-ott point where T-bone steak can be identified a separate product Profit per pound LOOK 32.10 1.20 $0.90 If the company were to further process the T-bone steaks, then cutting one side of a T-bone steak provides the filet mignon and cutting the other side provides the New York cut One 16 ounce T-bone steak cut in this way will yield one 6 ounce filet mignon and one 8 ounce New York cut the remaining ounces are waste. It costs 5015 to further process one T-bone steak into the filet mignon and New York euts. The filet mignon can be sold for $4.00 per pound, and the New York cut can be sold for $3.10 per pound Required: 1. What is the financial advantage (disadvantage) of further processing one Tibone steak into filet mignon and New York cut steak? 2 Would you recommend that the T-bone steaks be sold as initially cut or processed further? Complete this question by entering your answers in the tabs below. Required Required 2 What is the financial advantage (disadvantage) of further processing one T-bone steak into filet mignon and New York cut steaks? (Do not round intermediate calculations. Round your answers to 2 decimal places:) per un Bergen Required 2 >