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 eamed Employee income taxes withheld FICA taxes withheld Unemployment taxes $ 600,000 55,500 42,900 4,170 Required: 1. Considering both employee and employer payrol taxes, use the preceding information to calculate the total labor cost for the company. 2.83 Prepare the jounal entry to record the payrol for March, including employee deductions (but ll taxes), employer's FICA taxes and unemployment taxes. Employees were paid in March but amounts withheld were not yet remited. If no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the payroll for March inciuding employee deductions: Salaries and wages earned, s600,00 taxes withheld, $42.900: Unemployment taxes, $4,170 0 Emplovee income taxes withheld, $55,500; FICA Note: Enter debits before creditas Dato General Journal DebitCredit March 31 View transaction list Journal entry worksheet 2 Record the employer's FICA taxes and unemployment taxes: Salaries and wages earned, $600,000; Employee income taxes taxes withheld, $42,900; Unemployment taxes, $4,170. withheld, $55,500; FICA Note: Enter debits before credits. Debit Credit Date General Journal March 31