Question
Pizza Hut is a restaurant franchise with headquarters in Texas, United States. The firm is renowned for its delicious, economical, accessible, and extensive selection of
Pizza Hut is a restaurant franchise with headquarters in Texas, United States. The firm is renowned for its delicious, economical, accessible, and extensive selection of pizzas. Pizza Hut has locations in more than one hundred countries. From the UAE to Africa, the brand has dramatically altered the fast food business. Blake Shelton, Pamela Anderson, Mikhail Gorbachev, Bhuvan Bam, and Kristen Wiig are among the A-list celebrities that have promoted the brand. Pizza Hut provides its customers with a variety of eating options. Numerous establishments provide family-style eating, lunch buffets, and exceptional dining services.
Dan and Frank Carney were born in Wichita, Kansas, in the United States of America. They were one of five siblings. Their father was a meatpacking firm employee. He eventually started a food shop. However, Dan and Frank lost their father while they were still little. Consequently, their mother began managing the supermarket. She desired to offer a college education to her children. In Kansas, both Dan and Frank attended Wichita State University. A local real estate agent called Frank and Dan while Frank was still in college. The agent advised Frank and Dan to create a pizza restaurant on a vacant property. Previously, the structure housed a pub. However, it was closed, and the location was empty. Both brothers knew nothing about pizzas. Nonetheless, the agent persuaded them that operating a pizza restaurant would be profitable.
The brothers decided to try their hand at the pizza business. They stumbled onto a neighbourhood pizza maker by chance. John Bender, who had previously worked at an Indiana pizzeria, was the guy. Dan and Frank borrowed $600 from their mother to establish the firm in 1958. They hired a modest facility that resembled a box near South Bluff, Wichita. The building's signboard barely has room for eight letters. The little structure resembled a hut to Dan and Frank, so they named it "Pizza Hut." The name was a wonderful match with the signboard. However, operating a pizza restaurant proved difficult. At the time, few people were familiar with Italian cuisine. But Dan and Frank want to test it out. They started preparations for opening night.
The brothers purchased a used pizza oven from an Italian restaurant. Later, Richard Deemer, another acquaintance, joined them. Dan, Frank, John, and Richard collaborated to create an unforgettable opening night for Pizza Hut. However, the outcome was not as anticipated. They had purchased an oven with a bird's nest in its vent. The nest caught fire when they attempted to switch it on, and the pizzeria's walls were coated in soot. The lads were able to repaint the walls and postpone the opening by twenty-four hours. But the effort paid off after Pizza Hut opened its doors to the public. The floor area of the structure was less than 600 square feet. There was just enough for a few tables. However, the location swiftly gained popularity among adolescents and college students.
On an inaugural night, Dan and Frank distributed complimentary pizzas throughout the neighbourhood to generate enthusiasm. People quickly became aware of the newly launched pizza restaurant. Early Pizza Hut supporters included religious community members and high school students. They were certain that sampling would result in success. As soon as they sampled the handcrafted pizzas, they fell in love. The little eatery quickly began to draw patrons of all ages. Numerous families started to visit the location on weekends. Within six months, Pizza Hut's popularity significantly increased. In response, the Carney brothers established a second location in 1958. People around the city began to notice Pizza Hut's expanding success. Consequently, they began sending in soldiers to establish their brand's outposts.
One year after its founding, Pizza Hut started franchising. Richard Hassur established the first Pizza Hut franchise. The brand developed significantly in the early 1960s due to clever marketing. By 1966, Pizza Hut had 145 locations throughout the United States. During the late 1960s, the company's revenues increased significantly. Consequently, worldwide growth began. By 1970, Pizza Hut had expanded outlets in Canada, Australia, and Germany. It became a publicly listed business in 1972. The Carney brothers never looked back following their brand's worldwide success. In the 1970s, Pizza Hut became the largest pizza chain in the world. Later, it expanded into the United Kingdom and Japan. Throughout the 20th century, Pizza Hut accomplished several significant feats. Hence, it became one of the most recognizable fast-food businesses worldwide.
The first Pizza Hut restaurant in Malaysia opened at Yow Chuan Plaza, Kuala Lumpur, on May 19, 1982. Singapore-based Cerebos was the original owner. In December 1995, Cerebos chose to sell its franchise to KFC Holdings Malaysia Berhad after establishing 29 locations. Since then, the number of Pizza Hut locations has increased to 72. Over the next three years, on average, Pizza Hut is expected to open ten new locations annually.
Today, millions of people worldwide enjoy five key products, Pan Pizza, Thin 'N Crispy pizza, Hand-Tossed style pizza, Stuffed Crust Pizza, and The Big New Yorker Pizza and have established the standard by which all others are judged.
Production Process of Pizza Hut:
Question 1 (CLO1,3):
In your opinion, critically evaluate the choice between job-costing system and process-costing system in the case of Pizza Hut in Malaysia. Critically appraise the consequences of adopting different job costings on accounting statements.
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