(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 Inltially 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 yleld 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 filet mignon and cutting the other side provides the New York cut. One 16-ounce T-bone steak cut in this way will yleid one 6-ounce filet mignon and one 8-ounce New York cut; the remaining ounces are waste. It costs $0.12 to further process one T-bone steak Into the filet mignon and New York cuts. The filet mignon can be sold for $4.40 per pound, and the New York cut can be sold for $3.30 per pound. Required: 1. What Is the financial advantage (dlsadvantage) of further processing one T-bone steak Into filet mignon and New York cut steaks? 2. Would you recommend that the T-bone steaks be sold as Inltlally cut or processed further? Complete this question by entering your answers in the tabs below. Would you recommend that the T-bone steaks be sold as initially cut or processed further