In March, gross earnings of Perlman Company totaled $250,000. All earnings are subject to 7.65% FICA taxes, 5.4% state unemployment taxes, and 0.6% federal unemployment taxes.
Instructions
(a) Compute the employer's payroll tax expense.
(b) Prepare the entry to record payroll taxes.

Question

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The Answer of In March, gross earnings of Perlman Company totaled $250,000. All earnings are subject to 7.65% FICA taxes, 5.4% state unemployment taxes, and 0.6% federal unemployment taxes.
Instructions
(a) Compute the employer's payroll tax expense.
(b) Prepare the entry to record payroll taxes.

In March, Gross Earnings of Perlman Company Totaled $250,000