On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $27,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45%, $12,960 of federal income taxes, $1,440 of medical insurance deductions, and $840 of union dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regiss merit rating reduces its state unemployment tax rate to 5% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60%. (Round your answers to 2 decimal places.)

Chapters 11& 12 Sevad Help Save & Exit Submit On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $27,760 of office salaries and $60,840 of sales salaries, Withholdings from the employees salaries include FICA Social Security taxes at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45%. S12.960 of federal income taxes, $1,440 of medical insurance deductions, and $840 of union dues. No employee earned more than $7,000 in this first period. Required: 11 Calculate below the amounts for each of these four taxes of Regis Company. Regis's merit rating reduces its state unemployment tax rate to 5% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60% (Round your answers to 2 decimal places.) January B earnings Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA 1.2 Prepare the journal entry to record Regis Companys January 8 (employee) payroll expenses and liabilities. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the employee payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits Ktev 8 of 18 Next