Chapter 14 WileyPLUS Graded Assignment Question 11 of 12 < > Cullumber Company has the following data for the weekly payroll ending January 31. 0.67/1 !!! Hours Employee M T W T F S Hourly Rate Federal Income Tax Withholding Health Insurance L. Helton 8 8 10 8 10 3 $10 $34 $10 R. Kenseth 8 8 8 B 8 3 12 37 25 D. Tavaras 9 10 88 9 0 15 58 25 Employees are paid 1% times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages). Cullumber Company is subject to 5.4% state unemployment taxes and 0.6% federal unemployment taxes on the first $7,000 of gross earnings Prepare the journal entry to record Cullumber's payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 15.25) Date Account Titles and Explanation Jan. 31 Payroll Tax Expense Debit Credit 243.2 C 7 4 1 Question 11 of 12 < > 0.67/1 E taxes on the first $7,000 of gross earnings Prepare the journal entry to record Cullumber's payroll tax expense. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, eg 15.25) Date Account Titles and Explanation Jan. 31 Payroll Tax Expense FICA Taxes Payable Federal Unemployment Taxes Payable State Unemployment Taxes Payable eTextbook and Media Sat 18 Debit 243:29 Credit 13943 10.39 9347 Attempts: 1 of 3 used Sub Answer dtv