What was the amount of net pay

Reference no: EM133506246

Case Study: Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $69,000 but that employee income taxes totaling $8,900 and FICA taxes totaling $3,575 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts.

Required:

What was the amount of net pay?
Assuming Lightning Electronics also must pay $440 of unemployment taxes for this pay period, what amount would be reported as the total payroll costs?

Reference no: EM133506246

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