(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 compony has a large amount of T-bone steak on harid, and it is trying to decide whether to sell the T.bone steaks. as they are initially cut or to process them furthet into filet mignon and the New York cut. If the T-bone steaks are sold as initially cut, the company figures that a f-pound T-bone steak would yield the folowing profit: If the company were to further process the T-bone steaks, then cutting one side of a T-bone steak prowides 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 $016 to further process one T-bone steak into the filet mignon and New York cuts. The filet mignon can be sold for $360 per pound, and the New York cut can be sold for $320 per pound Required: 1. What is the financial advantage (disadvantage) of further processing one T-bone steak into filet mignon and New York cut steaks? 2 Wouid you recoommend that the T bone steaks be fold as initially cut or processed further? Complete this question by entering your answers in the tabs below. What is the finandial advantage (disadvantago) of further processing one Toone steak info fllet mignon and New Yoek cout