Question
During one pay period, your company distributes $133,000 to employees as net pay. The income tax withholdings were $19,500 and the FICA withholdings were $8,963.
During one pay period, your company distributes $133,000 to employees as net pay. The
income tax withholdings were $19,500 and the FICA withholdings were $8,963. Total
payroll costs to the company for this pay period, excluding any unemployment taxes,
was:
a.$133,000.
b.$161,463.
c.$152,500.
d.$170,426
What are the steps to solving this problem?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Edition
978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857
