In 2020, The Cheesecake Factory had almost 300 locations in the United States and Canada. Their menu features approximately 250 items including approximately 45 varieties of cheesecake and other baked desserts. According to the company website, "Those menu items, except desserts manufactured at our bakery production facilities, are all handmade in-house with fresh ingredients including more than 70 different sauces, dressings, and marinades." In addition, the company notes the average check for each The Cheesecake Factory guest, including beverages and desserts, was $23.50 in 2019. https://investors.thecheesecakefactory.com/about-us/the-cheesecake-factory/default.aspx Total revenue for 2019 was reported at $2.5 billion. https://s22.94cdn.com/604834465/files/doc_financials/annual/2020/Cheesecake-Factory-2019- Annual-Report.pdf The Cheesecake Factory kitchen is laid out like a manufacturing facility. Prep cooks hand-chop veggies, meat, and seasonings. The actual dishes are prepared by cooks. This operations system helps the company prepare food fresh and get dishes out faster. The chain also uses data analytics to predict what customers will order. This means the company uses nearly 98% of the food it buys. Discuss the following questions as if you are a new managerial accountant for The Cheesecake Factory: . . About how many meals do you think were served in 2019? (Hint: divide total revenue by average check) If you were hired as a managerial accountant for The Cheesecake Factory, what kind of standards would you watch at the corporate level? What kind of standards would you be watching at the restaurant level? Discuss the following questions as if you are a new managerial accountant for The Cheesecake Factory: About how many meals do you think were served in 2019? (Hint: divide total revenue by average check) If you were hired as a managerial accountant for The Cheesecake Factory, what kind of standards would you watch at the corporate level? What kind of standards would you be watching at the restaurant level? What kind of standards do you think you would set, and how would you set them? What kind of drawbacks do you think you might experience by setting the standards you propose and how would you deal with that? For reference, Wells Fargo rewarded employees based on the number of new accounts opened, which resulted in widespread fraud as employees opened unwanted accounts for clients between 2010 and 2016. For more details on The Cheesecake Factory's process and how hospitals might use similar data analytics to improve service and manage costs, see: th Corn August 13 2012 Issue