please answer questions 1 and 2.

{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 Tbone steak on hand+ and it is trying to decide whether to sell the Tbone steaks as they are initially cut or to process them further into filet mignon and the New York cut. If the Tbone steaks are sold as initially cut. the company gures that a 'lpound Tbone steak would yield the following prot: Selling price [$2.29 per pmmd] s 2.20 Lees joint costs incurred up to the split-off point where Thone steak can be identified as a separate product 1.2\"} Profit. per pound $ 3.50 ' lfthe company were to further process the T-bone steaks, then cutting one side ofa T-bone steak provides the filet mignon and cutting the other side provides the New York cut.One1rounce Tbone steak cut in this way will yield one Bounce let mignon and one Bounce New York cut, the remaining ounces are waste. It costs $0.11 to further process one Tbone steak into the filet mignon and New York cuts. The lilet mignon can be sold for $4.00 per pound, and the New York out can be sold for $3.40 per pound. Required: 1. What is the financial advantage {disadvantage} of further processng one Tbone steak into filet mignon and New York cut steaks? 2. Would you recommend that the Tbone steaks be sold as initially cut or processed further? Complete thls question lay enterlny your answers In the to\" below. ReunirEd 1 What Is the nancial advantage {disadvantage} of further prooessing one T-hone steak into let mignon and New York cut steaks? [Do not round Intermeolate calculations. Round your answers to 2 decimal places.) Required 2 > Required 1 Required 2 Would you recommend that the T-bone steaks be sold as initially cut or processed further? OT-bone steaks should be processed further. OT-bone steaks should be sold as initially cut.