Payroll Accounting Stadium Manufacturing has the following data available for its September 30, 2018, payroll:

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1. Compute the amounts of taxes payable and the amount of wages that will be paid to employees. Then prepare the journal entries to record the wages earned and the payroll taxes. (Note: Round to the nearest penny.)
2. Stadium Manufacturing would like to hire a new employee at a salary of \(\$ 50,000\). Assuming the payroll taxes are as described above and fringe benefits (e.g., health insurance, retirement, etc.) are \(30 \%\) of gross pay, what will be the total cost of this employee for Stadium?

OBJECTIVE 2 Problem

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Wages earned Income taxes withheld $315,000* 79,900