As mentioned above, instead of being sold as initially cut, the T-bone steaks could be further processed into filet mignon and New York cut steaks. 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. The cost of processing the T-bone steaks into these cuts is $0.12 per pound. The filet mignon can be sold for $4.00 per pound, and the New York cut can be sold for $3.80 per pound.

Required:

1.

Determine the profit per pound from processing the T-bone steaks into filet mignon and New York cut steaks. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

	Per 16-Ounce T-Bone
Sales from further processing:
Sales price of one filet mignon
Sales price of one New York cut
Total revenue from further processing	0.00
Less sales revenue from one T-bone steak
Incremental revenue from further processing	0.00
Less cost of further processing
Profit(loss) per pound from further processing	$0.00