Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20-, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000 of earnings, Social Security tax on the employer is 6.2% on the first $118,500 of earnings, and Medicare tax is 1.45% on gross earnings. Taxable Earnings Cumulative Pay Before C Current urrent Weekly Unemployment Earnings Compensation Social Earnings Employee Name Click, Katelyn Coombs, Michelle Fauss, Erin Lenihan, Marcus McMahon, Drew Newell, Marg Stevens, Matt Security $6,650 6,370 23,460 6,930 117,150 25,470 28,675 $800 720 1,200 900 3,440 1,110 1,260 Required 1. Calculate the total employer payroll taxes for these employees. Round all your calculations, including your answer, to the nearest cent. 2. Prepare the journal entry to record the employer payroll taxes as of July 7, 20--. Round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Employer Payroll Taxes 1. Calculate the total employer payroll taxes for these employees. Round all your calculations, including your answer, to the nearest cent. 2. Prepare the journal entry to record the employer payroll taxes as of July 7, 20--. Round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Page: DOC. POST.DEBIT CREDIT NO. REF DATE 1 20-July 7