For the week ended May 16, Cheap Prinitng Company had a total payroll of 183,000. Threes items are withheld from employee's paycheck: (1) Social Security (FICA) tax of 7.1% of payroll (2) income taxes, which average 20% of the payroll; and (3) employees' savings that are desposited in their credit union, which are $12,020. In addion, Cheap Printing Company pays (1) Social Security tax equal to the amount withheld from employees, (2) health insurance premiums of $12,750 , and (3) contributions to the employees' pension fund of $17,000.

Prepare the journal entires to record the compenstaion expense and the employee benefit expense.