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I just need help with Part 3. Ricardo's Mexican Restaurant incurred salaries expense of $62,000 for 2024. The payroll expense includes employer FICA tax, in
I just need help with Part 3.
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). (i) (Click the icon to view payroll tax rate information.) Read the requirements. Requirement 2. What was Ricardo's total expense for 2024 related to payroll? Select the labels associated with total payroll expense, and then enter in the corresponding amounts. (Round all amounts to the nearest cent. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Now record the accrual of Ricardo's employee benefit expenses. 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). (i) (Click the icon to view payroll tax rate information.) Read the requirements. Requirement 2. What was Ricardo's total expense for 2024 related to payroll? Select the labels associated with total payroll expense, and then enter in the corresponding amounts. (Round all amounts to the nearest cent. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Now record the accrual of Ricardo's employee benefit expenses
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