E10-3 Recording Payroll Costs [LO 10-2] McLoyd Company completed the salary and wage payroll for March. The payroll provided the following details: Salaries and wages Employee income taxes withheld FICA taxes withheld S570,000 52,725 40,755 3,965 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company. I Labor Cost 2.&3.Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes), employer's FICA taxes and unemployment taxes. Employees were paid in March but amounts withheld were not yet remitted. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Import a new list Record the payroll for March including employee deductions: Salarles and wages earned, $570,000; Employee income taxes withheld, $52,725; FICA taxes withheld, $40,755; Unemployment taxes, $3,965 1 and FICA 2 Record the employer's FICA taxes and unemployment taxes: Salaries and wages earned, $570,000; Employee income taxes withheld, $52,725; FICA taxes withheld $40,755; Unemployment taxes, $3,965 Credit