CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL TAXES Portions of the payroll register for Kathy's Cupcakes for the week ended June 21 are 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. The Social Security tax rate is 6.2% on the first $128,400 of earnings. The Medicare rate is 1.45% on gross earnings. Kathy's Cupcakes Payroll Register Total Taxable Earnings of All Employees Total Earnings Unemployment Compensation Social Security $15,680 $12,310 $15,680 Calculate the employer's payroll taxes expense and prepare the journal entry to record the employer's payroll taxes expense for the week ended June 21 of the cur- rent year