540,000 92.500 Salaries Federal Income Tax Withheld State Income Tax Withheld Employee 401(k) Contributions Insurance paid by Employee Salaries Subject to Unemployment Taxes 21 200 500 7,500 180,000 Tax Rates: Social Security Medicare State Unemployment Federal Unemployment 6.20% 1.45% 5.40% 0.80% *Represents 25% of total insurance cost **All salaries subject to Social Security taxes scord, in journal entry form, the (1) employee payroll and (2) employer's payroll tax and benefit expense