For all payroll calculations, use the following tax rates and round amounts to the nearest cent.

Employee: OASDI: $6\mathrm{.}2\%$ on first $$132,900$ earned; Medicare: $1\mathrm{.}45\%$ up to $$200,000,2\mathrm{.}35\%$ on earnings above $$200,000.$

Employer: OASDI: $6\mathrm{.}2\%$ on first $$132,900$ earned; Medicare: $1\mathrm{.}45\%$; FUTA: $0\mathrm{.}6\%$ on first $$7,000$ earned; $$$UTA: $5\mathrm{.}4\%$ on first $$7,000$ earned.

E$-$F:$11-19$ Recording employer payroll taxes and employee benefits

$($Learning Objective $2)$

Ricardo's Mexican Restaurant incurred salaries expense of $$62,000$ for $2024.$ The payroll expense includes employer FICA tax, in addition to state unemployment tax and federal unemployment tax. Of the total salaries, $$22,000$ is subject to unemployment tax. Also, the company provides the following benefits for employees: health insurance $($cost to the company, $$3,000),$ life insurance $($cost to the company, $$330),$ and retirement benefits $($cost to the company, $10\%$ of salaries expense$).$

Requirements

Journalize Ricardo's expenses for employee benefits and for payroll

What was Ricardo's total expense for $2024$ related to payroll?