ETT- 71B Gipson Company has the following data for the weekly payroll ending January 3 1 . Federal Hours Hourly Income Tax Health Employee* M I I 5 Rate Withholding* Insurance* 4 5. Lore $ 14 $ 45 $ 15 K. Dunn \\DO DO ? 15 5 1 30 V. Takai 4 18 70 30 Employees are paid 1 /2 times the regular hourly rate for all hours worked in excess of 40 hours per week . FICA taxes are 7. 65%6 on the first $ 1 17, 000 of gross earnings . Gipson Com - pany is subject to 5. 49/6 state unemployment taxes and 0. 896 federal unemployment taxes on the first $ 7, 000 of gross earnings . Instructions ( a ) Prepare the payroll register for the weekly payroll . ( b ) Prepare the journal entries to record the payroll and Gipson's payroll tax expense