2 XYZ Mfg has three employees. Prepare payroll entries for Earned as of Earned in 1031 1 Employee Huey Dewey 136,800 11,000 Louie Nov 5,700 4,000 Federal withholding is 15% State withholding is 5% Social Security 6.2% of the first $120,000 | Medicare is 1.5% no ceiling Federal Unemployment is .8% of the first $7,000 State Unemployment is 4.2% of the first $7,000