(Prepared from a situation suggested by Professar John W Hardy) Lorse Star Meat Packers is a major processor of beef and other meat producks, The con pany has a large amount of T-bone steak on hand; and it is tying to decide whether to sell the Tbone steoks. as they ate initially cut or to process them further into filet mignon and the New York cut. If the Tibone steaks ate sold as initilily cut, the company figures that a 1. pound T-bone steak would yield the following profit: If the company were to further process the T-bone steaks, then cutting one side of a T.bone steak provides the flet mignon and cutting the other side provides the New York cut. One 16 ounce T-bone steak cut in this way willyeid one 6 -ounce filet migtion and one 8 ounce New York cut: the remalning ounces are waste. It costs 5018 to further process one T-bone stenk into the filet mignon and New York cuts. The filet mignon can be soid for $4.00 per pound, and the New York cut can be sold for $3.80 per pound Required: 1. What is the financlai advantage (disadvantage) of further processing one T-bone steak into fiet mignon and New York cut steaks? 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. What is the financial advaatage (disadvantage) of further processing one T-bone steak into nlet mignon and Nrw rofk cut steaks? (Do not round intermedlate celculations. Round your answers to 2 decimal ploces)