(Prepared from a situation suggested by Professor John W. Hardy) Lone Star Meat Packers is a major processor of beef and ather meat products. The company has a large amount of T-bone steak on band, 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 yledd the following profit If the company were to further process the T-bone steaks, then cutting ane side of at-bone steak provides the file mignon and cutting the other side provides the New York cut One 16-ounce Tbone stegak cut in this way will yield one 6-ounce filet mignon and one 8-ounce New York cut; the remaining ounces are waste. It cosits S016 to further process one T-bone steak into the filet mignon and New York cuts. The filet mignon can be sold for $4.00 per poundi and the New York cut can be sold for $370 per pound Required: 1. What is the financial advantage (disadvantage) of further processing one Tbone steak into filet mignon and New York cut steaks? 2. Would you recommend that the T-bone steaks be sold as initally cut or procesfied further? Answer is not complete. Complete this question by entering your answers in the tabs below. What is the financial advantage (disadvantage) of further processing one T-bone thak into flat mignon and New York cut