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. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. 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. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the payroll for March including employee deductions: Salaries and wages earned, $480,000; Employee income taxes withheld, $44,400;; FICA taxes withheld, $34,320; Unemployment taxes, \$3,335. Note: Enter debits before credits. 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. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the employer's FICA taxes and unemployment taxes: Salaries and wages earned, $480,000; Employee income taxes withheld, $44,400; FICA taxes withheld, $34,320; Unemployment taxes, $3,335. Note: Enter debits before credits