Macier Company completed the salary and wage payroll for March 2017. The payroll provided the following details: Salaries and wages earned Employee income taxes withheld

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Macier Company completed the salary and wage payroll for March 2017. The payroll provided the following details: Salaries and wages earned Employee income taxes withheld Canada Pension Plan Employment Insurance $ 228,000 50,000 2,400 730 Required: 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labour cost for the company. TIP: Employer CPP equals employee CPP. Employer El equals 1.4 times employee El. Total labour cost $ 231,422 2. Prepare the journal entry to record the payroll for March, including employee deductions but excluding employer payroll taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date Debit Credit 1 228,000 General Journal March 31, 2017 Salaries and wages expense Withheld income taxes payable Cash 50,000 178,000 3. Prepare the journal entry to record the employer's CPP and El contributions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 March 31, 2017 Payroll tax expense 1,022 2,400 El payable CPP payable 1,022 2,400