E10-3 Recording Payroll Costs [LO 10-2] McLoyd Company completed the salaries and wages payroll for March. The payroll provided the following details: Salaries and wages earned Employee income taxes withheld FICA taxes withheld Unemployment taxes $400,000 37,000 28,600 2,780 Required: 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. 2. & 3. Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes) and record employer's FICA taxes and unemployment taxes. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. Total Labor Cost Reg 1 Reg 2 and 3 Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes) and record employer's FICA taxes and unemployment taxes. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the payroll for March including employee deductions: Salaries and wages earned, $400,000; Employee income taxes withheld, $37,000; FICA taxes withheld, $28,600; Unemployment taxes, $2,780. Note: Enter debits before credits. Date General Journal Debit Credit March 31 Record entry Clear entry View general journal Req 1 Reg 2 and 3 Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes) and record employer's FICA taxes and unemployment taxes. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the employer's FICA taxes and unemployment taxes: Salaries and wages earned, $400,000; Employee income taxes withheld, $37,000; FICA taxes withheld, $28,600; Unemployment taxes, $2,780. Note: Enter debits before credits. General Journal Debit Credit Date March 31 Record entry Clear entry View general journal