acier Company completed the salary and wage payroll for March 2017. The payroll provided the following details:

Salaries and wages earned	$	234,000
Employee income taxes withheld		50,600
Canada Pension Plan		2,700
Employment Insurance		790

Required: 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labour cost for the company. TIP: Employer CPP equals employee CPP. Employer EI equals 1.4 times employee EI.

2. Prepare the journal entry to record the payroll for March, including employee deductions but excluding employer payroll taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3. Prepare the journal entry to record the employers CPP and EI contributions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)