Calculation and Journal Entry for Employer Payroll Taxes Portions of the payroll register for La Panaderia for the week ended July 15 are shown below. The SUTA tax re both of which are levied on the first $7,000 of earnings. The Social Security tax rate is 6.2% on the first $128 1.45% on gross earnings. La Panaderia Payroll Register. Total Taxable Earnings of All Employees 1. Calculate the employer's payroll taxes expense. $x Feedback V Check My Work For Social Security and Medicare, total earnings are taxable for this exercise. For SUTA and FUTA, $10,500 is taxable. The $7,000 applies to individual maximums. The problem data shc employees. You should assume that no one employee has reached the maximum. 2. Prepare the journal entry to record the employer's payroll taxes expense for the week ended july 15 of the curi mployer Payroll Taxes La Panaderia for the week ended July 15 are shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, st $7,000 of earnings. The Social Security tax rate is 6.2% on the first $128,400 of earnings. The Medicare rate is La Panaderia Payroll Register Total Taxable Earnings of All Employees ayroll taxes expense. $10,500 is taxable. The $7,000 applies to individual maximums. The problem data shoh\$ the total taxable earnings of all uld assume that no one employee has reached the maximum. try to record the employer's payroll taxes expense for the week ended July 15 of the current year. 2. Prepare the journal entry to record the employer's payroll taxes expense for the week ended July 15 of th to record the employer's payroll laxes expense for the week ended July 15 of the current year