Francisco Company has 10 employees, each of whom earns $2,800 per month and is paid on the last day of each month. All 10 have been employed continuously at this amount since January 1. On March 1, the following accounts and balances exist in its general ledger. FICASocial Security Taxes Payable, $3,472; FICAMedicare Taxes Payable, $812. (The balances of these accounts represent total liabilities for both the employers and employees FICA taxes for the February payroll only.) Employees Federal Income Taxes Payable, $4,000 (liability for February only). Federal Unemployment Taxes Payable, $336 (liability for January and February together). State Unemployment Taxes Payable, $3,024 (liability for January and February together).

March 31 Recorded the employers payroll taxes resulting from the March payroll. The company has a state unemployment tax rate of 5.4% on the first $7,000 paid to each employee. The federal rate is 0.6%