Diego's Mexican Restaurant incurred salaries expense of $70,000 for 2024. The payroll expense includes employer FICA tax, in addition to state unemployment tax and federal unemployment tax. Of the total salaries, $19,000 is subject to

unemployment tax. Also, the company provides the following benefits for employees: health insurance (cost to the company, $2,300), life insurance (cost to the company, $410), and retirement benefits (cost to the company, 5% of salaries

ompany, $2, ... More info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $132,900 earned per employee; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned per employee; SUTA: 5.4% on first $7,000 earned per employee. Print Don 1. Journalize Diego's expenses for employee benefits and for payroll taxes. Explanations are not required. 2. What was Diego's total expense for 2024 related to payroll