The following payroll journal entries for Oct. 15 were made by your predecessor. For FICA tax, assume that the social security rate is 6.0% and the Medicare rate is 1.5%. The state and federal unemployment tax rates are 5.4% and 0.8%, respectively. The company offers 401k plans to employees. Review the journal entries, then answer the questions that follow.

1. What is the total payroll for Copperfield and Company shown in these journal entries?

2. How much has Copperfield and Company contributed to employee 401k plans in this payroll?

123,000.00 442,800.00 82,000.00 172,200.00 Oct. 15 Sales Salaries Expense Officers Salaries Expense Office Salaries Expense Factory Wages Expense Social Security Tax Pavable Medicare Tax Payable Employees Federal Income Tax Payable Medical Insurance Payable Retirement Contributions Payable Salaries Payable 49,200.00 12,300.00 147,600.00 90,200.00 123,000.00 397,700.00 15 Payroll Tax Expense 62,864.00 Social Security Tax Payable Medicare Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable 49,200.00 12,300.00 176.00 1,188.00 15 Pension Expense 73,800.00 123,000.00 442,800.00 82,000.00 172,200.00 Oct. 15 Sales Salaries Expense Officers Salaries Expense Office Salaries Expense Factory Wages Expense Social Security Tax Pavable Medicare Tax Payable Employees Federal Income Tax Payable Medical Insurance Payable Retirement Contributions Payable Salaries Payable 49,200.00 12,300.00 147,600.00 90,200.00 123,000.00 397,700.00 15 Payroll Tax Expense 62,864.00 Social Security Tax Payable Medicare Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable 49,200.00 12,300.00 176.00 1,188.00 15 Pension Expense 73,800.00