Payroll Information for Kinzer's Interior Decorating for the First Week $\begin{array}{llcc} \text { Employees' gross wayes } & \$74,044 \\\end{array}$

Payroll information for Kinzer's Interior Decorating for the first week in October is as follows:
$\begin{array}{llcc} \text { Employees' gross wayes } & \$74,044 \\\end{array}$

Taxable earnings for FICA-
$\begin{array}{llcc} \text {OASDI } & 50,000 \\ \text { Medicare } &70,000\\\end{array}$

Taxable earnings subject to Federal and State Unemployment taxes: $5,000
Assume the following tax rates:
\begin{array}{llcc} \text {FICA: 0ASDI } &6.2\%\ \\ \text { FICA: Medicare } &1.45\%\\\ \text { Federal unemployment } &0.8\%\\ \text { State unemployment} &2.0\%\\end{array}

Required: Prepare the payroll tax expense entry.