eBook Show Me How Calculator Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000 of earnings. Social Security tax on the employer is 6.2% on the first $128,400 of earnings, and Medicare tax is 1.45% on gross earnings. Taxable Earnings Cumulative Pay Before Current Earnings Current Weekly Earnings Unemployment Compensation Social Security $6,650 Employee Name Click, Katelyn Coombs, Michelle Fauss, Erin $800 720 6,370 33,460 6,930 1,200 900 127,050 4,440 Lenihan, Marcus McMahon, Drew Newell, Marg Stevens, Matt 1,110 35,470 38,675 1,260 Required: 1. Calculate the total employer payroll taxes for these employees Taxable Earnings Employee Current Weekly Unemploy. Social 1. Calculate the total employer payroll taxes for these employees. Taxable Earnings Social Employee Name Current Weekly Earnings Unemploy. Comp. Security Click, Katelyn $ $ $ Coombs, Michelle Fauss, Erin Lenihan, Marcus McMahon, Drew Newell, Marg Stevens, Matt Total $ $ Social Security tax $ Medicare tax FUTA tax SUTA tax Total employer payroll taxes s 2. Prepare the journal entry to record the employer payroll taxes as of July 7, 20-- Page: DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 20- July 7 1 2. III 2 2 3 3 4 4 5 5