Assume an employee of Rocco Rock Company earns $2,70O of gross wages during the current pay period and is required to remit to the government $270 for income tax and $135 for FICA. Consider the following two procedures for paying the employee Procedure 1 (Withholdings) Procedure 2 (No Withholdings) Rocco Rock Company pays the Rocco Rock Company pays the employee employee net wages of $2,295 and gross wages of $2,700O and the employee remit income taxes and FICA on behalf is responsible for remitting income taxes of the employee and FICA himself Required 1-a. Ignoring employer payroll taxes, under each procedure calculate (a) the total labor cost for the company and (b) the amount of cash the employee will have after satisfying all responsibilities to the government. Total Labor Cost Amount of Cash Procedure 1 (Withholdings) Procedure 2 (No withholdings) Journal entry worksheet 2 Record the wages expense, including payroll deductions Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal