Calculation and Joumal Entry for Employer Payroil Taxes Portions of the payroll register for La Panaderia for the week ended July 15 are shown below. The 5 UTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both of which are levied on the first $7,000 of eamings. The Social Security tox rate is 6.2% on the first $128,400 of earnings. The Medicare rate is 1.45% on gross earnings. 1. Calculate the empleyer's payroll taxes expense, 2. Prepare the yaurnal entry to record the empioyer's payroli taxes expense for the week ended July 15 of the current year