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DU The total wage expense for Edgar Co was $166,000 of this total 531,000 was above the OASDi wage base limit and not subject to

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DU The total wage expense for Edgar Co was $166,000 of this total 531,000 was above the OASDi wage base limit and not subject to this tax All earnings are subject to Medicare olm and 563,000 was above the federal and state unemployment wage base limits and not subject to unemployment taxes Please calculate and journalize the total payroll tax or expense for Edgar Co given the following rates and wage base limits ol Calculate the total payroll tax expense for Edgar Co FICA-OASDI RCA-Medicare FUTA SUTA Total Journalize the total payroll tax expense for Edgar Co. (Record debts ist, then credits Exclude explanations from journal entries) Journal Entry Accounts PR Dobit Credit a. FICA tax rate: OASDI, 6.2% with a wage base limit of $127.200; Medicare, 1.45% with no wage base limit b. State unemployment tax rate 5.4% with a wage base limit of $7,000 c. Federal unemployment tax rate (after credit): 0.6% with a wage base limit of $7,000

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