Calculation of Taxable Earnings and Employer Payroll Taxes and Preparation of Journal Entry Selected information from the payroll register of Joanie's Boutique for the week ended September 14, 20-, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings. Taxable Earnings Cumulative Pay Before Current Employee Name Earnings Current Unemployment Gross Pay Compensation Social Security Jordahl, Stephanie $6,660 $1,170 Keesling, Emily 6,150 1,050 Palmer, Stefan 55,220 2,380 Soltis, Robin 54,120 2,260 Stout, Hannah 28,880 2,030 Xia, Xu 127,340 3,650 1. Calculate the amount of taxable earnings for unemployment, Social Security, and Medicare taxes. Taxable Earnings Employee Name Current Earnings Unemployment Compensation Security Social Jordahl, Stephanie Keesling, Emily Check My Work Previous Next >