Payroll Accounting Reed Enterprises has the following data available for its April 30 payroll: Wages earned Federal income taxes withheld $226,000= 57,200 "All subject to Sociat Security and Medicare matching and witholding of 6.2% and 1.45%, respectively. Federal unemployment taxes of 0.75% and state unemployment taxes of 0.30% are payable on $212,000 of the wages earned. Required: When required, round your answers to the nearest cent. 1. Compute the amounts of taxes payable and the amount of wages that will be paid to employees. Social Security Medicare Federal unemployment state unemployment Net pay $ s. 3 5 Prepare the journal entnes to record the wages earned and the payroll taxes. If an amount box does not require an entry, leave it blank. Apr: 30 Apr. 30 (Record wages and liabilities) Apr: 30 (Record employer payroll taxes) 2. Conceptual connection: Reed would like to hire a new employee at a salary of $50,000. Assuming the payroll taxes are as described above (with unemployment taxes paid on the first \$7,000) and fringe benefits (e.g., health insurance, retirement, etc.) are 30% of gross pay, what will be the total cost of this employee for Reed? Round your answer to two decimal places