Exercise 9-12 Accounting for estimated liabilities LO P4 Listed below are a few transactions and events of Maxum Company. 1. Employees earn vacation pay at a rate of one day per month. During December, 32 employees qualify for one vacation day each. Their average daily wage is $310 per employee. total $133,000. The company expects 6% of the units to need warranty repairs, and it estimates the average repair cost per unit will ook 2. During December, Maxum Company sold 3,100 units of a product that carries a 60-day warranty. December sales for this product be $13. Prepare any necessary adjusting entries at December 31, 2017, for Maxum Company's year-end financial statements for each of the above separate transactions and events View transaction list View journal entry worksheet Exercise 9-8 Recording payroll LO P2, P3 The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $560,000; Office salaries, $112,000; Federal income taxes withheld, $168,000: State income taxes withheld, $37,500: Social security taxes withheld, $41,664 Medicare taxes withheld, $9,744; Medical insurance premiums, $13,500: Life insurance premiums, $10,500; Union dues deducted, $7500; and Salaries subject to unemployment taxes, $63,000. The employee pays 40% of medical and life insurance premiums Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and Prepare the journal entries to record accrued payroli and cash payment of the net payroll for July 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 06% Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 l taxes and all other emplover- paid expenses and the cash paymen f all llities for July assume xpenses and the cash payment or a UTA taxes are 5.4% and FUTA taxes are 0.6% that FICA taxes are identical to those on employees and that s