Felipe's Mexican Restaurant incurred salaries expense of $67,000 for 2024. The payroll expense includes employer FICA tax, in addition to state unemployment tax and federal unemployment tax. Of the total salaries, $20,000 is subject to

unemployment tax. Also, the company provides the following benefits for employees: health insurance (cost to the company, $2,700), life insurance (cost to the company, $420), and retirement benefits (cost to the company, 6% of salaries expenses

someworkld:607669964&questionId=i&rushed 3 ent Liabilitie... Question 13, EF11-19 (si... Part 1 of 3 > HW Score: 79. Points: 1.2 1. The payroll expense includes employer FICA tax, in addition to state unemployment tax and mployees: health insurance (cost to the company, $2,700), life insurance (cost to the company E. More info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 eamed; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned per employee; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned per employee; SUTA: 5.4% on first $7,000 earned per employee. Print Done nt Liabilitie... Part 1 of 3 Point The payroll expense includes employer FICA tax, in addition to state unemployment ta ployees: health insurance (cost to the company, $2,700), life insurance (cost to the con SER payroll taxes. Explanations are not required. Requirements E 1. Journalize Felipe's expenses for employee benefits and for payroll taxes. Explanations are not required. 2. What was Felipe's total expense for 2024 related to payroll? Print Done