During the month of February, Hennesey Corporation's employees earned wages of $74,000. Withholdings related to these wages were $5,661 for Social Security (FICA), $7,100 for federal income tax, and $1,900 for state income tax. Costs incurred for unemployment taxes were $110 for federal and $160 for state.
Prepare a tabular summary to record on February 28
(a) Salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March and
(b) The company's payroll tax expense.