During one pay period, Star Valley Company distributes $139,000 to employees as net pay. The income tax withholdings were $20,700 and the FICA withholdings were $9,069. Total payroll costs to the company for this pay period, excluding any unemployment taxes, was:
Homework Answers
ANSWER:
| Net pay | 139000 |
| Add: Income tax withholdings | 20700 |
| Add: FICA withholdings | 9069 |
| Add: Employer portion of FICA | 9069 |
| Total payroll costs | 177838 |
| Option C $177,838 is correct |
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