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13-4V (Aigo) Sell or Process Further Decision (LO13-7) (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 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 yuld the following profit Selling price ($2.40 per pound) Tour Joint on neurred up to the litroft palm whare T-bone 2.40 steak can be identified as a separate product 1.25 Profit per pound 3 1.15 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 will yield one 6-ounce filet mignon and one 8-ounce New York cut the remaining ounces are waste, it costs $0.15 to further process one Tibone steak into the filet mignon and New York cuts. The filet mignon can be sold for $3,60 per pound, and the New York cut can be sold for $3.70 per pound Required: 1. What is the financial advantage disadvantage) of further processing one T-bone steak into filet mignon and New York cut stenke? 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. Required 1 Required 2 What is the financial advantage (disadvantage) of further processing one T-bone steak into flet mignon and New York cut steaks? (Do not round intermediate calculations. Round your answers to 2 decimal places) per unit