1. 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March.

2. 2, & 3. Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes) and record employers FICA taxes and unemployment taxes. Employees were paid in March but amounts withheld were not yet remitted.

McLoyd Company completed the salaries and wages payroll for March. The payroll provided the following details: Salaries and wages earned Employee income taxes withheld FICA taxes withheld Unemployment taxes $550,000 50,875 39,325 3,825 Required: 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. 2, & 3. Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes) and record employer's FICA taxes and unemployment taxes. Employees were paid in March but amounts withheld were not yet remitted. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. Total Labor Cost