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The total wage expense for Bell Co. was $164,000. Of this total, $29,000 was above the OASDI wage base limit and not subject to this

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The total wage expense for Bell Co. was $164,000. Of this total, $29,000 was above the OASDI wage base limit and not subject to this tax. All earnings are subject to Medicare taxes, and $63,000 was above the federal and state unemployment wage base limits and not subject to unemployment taxes. Please calculate and journalize the total payroll tax expense for Bell Co, given the following rates and wage base limits: (Click the icon to view the rates and wage base limits.) Calculate the total payroll tax expense for Bell Co. FICA-OASDI FICA - Medicare FUTA SUTA Total Journalize the total payroll tax expense for Belt Co. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Accounts PR Debit Credit More info a. FICA tax rate: OASDI, 6.2% with a wage base limit of $127.200; Medicare, 1.45% with no wage base limit b. State unemployment tax rate 5.4% with a wage base limit of $7,000 c. Federal unemployment tax rate (after credit): 0.6% with a wage base limit of $7,000 Print Done

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