Calculation and Journal Entry for Employer Payroll Taxes

Earnings for several employees for the week ended March 12, 20--, are as follows:

Taxable Earnings Employee NameCurrent EarningsUnemployment CompensationSocial SecurityAus, Glenn E.$700 $200 $700 Diaz, Charles K.350 350 350 Knapp, Carol S.1,200 1,200 Mueller, Deborah F.830 125 830 Yeager, Jackie R.920 35 920

Question Content Area

Calculate the employers payroll taxes expense for the week ended March 12, 20--, assuming that FUTA tax is 0.6%, SUTA tax is 5.4%, Social Security tax is 6.2%, and Medicare tax is 1.45%, and prepare the journal entry