Employer Payroll Tax Question.

6. Calculating employer payroll taxes. Payroll information taken from a payroll register and employee earnings records is given below. a. Calculate the amount of earnings subject to unemployment taxes. Unemployment taxes are owed on the first $7,000.00 of earnings for each employee. b. Calculate the amount of employer payroll taxes owed for the May 1-15 pay period. Employer payroll tax rates are as follows: Social Security, 6.2%; Medicare, 1.45%; federal unemployment, 0.8%; and state unemployment, 5.4%. Employee Name Accumulated Earnings April 30 Total Earnings For May 1-15 Pay Period 427.00 Unemployment Taxable Earnings Easton, Phillip W. 3,882.50 Goodpast, Sandra 8,450.00 1,045.00 Lake, Margaret Y. 5,725.90 827.75 Saenz, Raul J. 5,886.00 1,236.00 Totals 3,535.75 Social Security Tax Payable Medicare Tax Payable Unemployment Tax Payable-Federal Unemployment Tax Payable-State Make the entry below for the employer's payroll taxes based on the amounts above. General Journal Account Title Debit Credit