Selected information from the payroll register of Howard's Cutlery for the week ended October $7,20--,$ is presented. Social Security tax is $6\mathrm{.}2\%$ on the first $$128,400$ of earnings for each employee.

Medicare tax is $1\mathrm{.}45\%$ on gross earnings. FUTA tax is $0\mathrm{.}6\%$ and SUTA tax is $5\mathrm{.}4\%$ on the first $$7,000$ of earnings.

Required:

Calculate the amount of taxable earnings for unemployment comp, Social Security, and Medicare taxes.

Prepare the journal entry to record the employer's payroll taxes as of October $7,20--.$