The total wage expense for

Edgar

Co. was

$162,000.

Of this total,

$34,000

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

Edgar

Co. given the following rates and wage base limits:

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Calculate the total payroll tax expense for

Edgar

Co.

FICA - OASDI
FICA - Medicare
FUTA
SUTA
Total

Rates and wage base limits:

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a. FICA tax rate: OASDI,

6.2%

with a wage base limit of

$127,200;

Medicare,

1.45%

with no wage base limitb. State unemployment tax rate

5.4%

with a wage base limit of $7,000c. Federal unemployment tax rate (after credit):

0.6%

with a wage base limit of $7,000