13 Question 16 (2 points) Total payroll $400,000 of which $50,000 is exempt from social security since it represents amounts in excess of the social security limit for the year. $300,000 represents amounts paid to employees in excess of 7,000. Income tax withheld $80,000, union dues $10,000 The SUTA rate is 2%, and the FUTA rate is 6%. Social security rate is 6.2%, Medicare rate is 1.45%. Prepare the payroll entry(s) and note the debit to payroll tax expense a) $27,500. b) $30,100 c) $31,000. d) $35,300.