This demonstration problem uses the same information presented in Chapter 9 to continue with calculating and recording employer payroll taxes. Below is the payroll information for Floyd's Beauty Shop for the week ended April 7. Regular Overtime Regular Overtime Total Employee Hours Hours Rate Rate Wages Floyd Woodcock Single 2 40 2 12.67 19.01 544.82 Ralph Kafooty Single 2 40 8 11.25 16.88 585.04 Evelyn Woodhead single ! 40 1 14.35 21.53 595.53 Total Gross Wages 1725.39 Federal Income Tax State Income Tax Social Security Medicare Tax Total Deductions 37.00 3.84 33.78 7.90 82.52 Employee Floyd Woodcock Ralph Kafooty Evelyn Woodhead Total Gross Wages 43.00 4.32 36.27 8.48 92.07 55.00 5.20 36.92 8.64 105.76 135.00 13.36 106.97 25.02 280.35 Pay Gross Total Net Employee Wages Deductions Floyd Woodcock 544.82 82.52 462.30 Ralph Kafooty 585.04 92.07 492.97 Evelyn Woodhead 595.53 105.76 489.77 Total Gross Wages 1.725.39 280.35 1,445.04 Required: 1. Compute the following employer payroll taxes for the week ended April 7 a. FICA - Social Security - 6.2% on all wages b. FICA - Medicare - 1.45% on all wages C. FUTA -0.8% on wages d. SUTA-3.2% on wages 2. Prepare a journal entry to record the employer taxes on April 7. 3. Prepare a journal entry to record the payment of the taxes on April 10. This demonstration problem uses the same information presented in Chapter 9 to continue with calculating and recording employer payroll taxes. Below is the payroll information for Floyd's Beauty Shop for the week ended April 7. Regular Overtime Regular Overtime Total Employee Hours Hours Rate Rate Wages Floyd Woodcock Single 2 40 2 12.67 19.01 544.82 Ralph Kafooty Single 2 40 8 11.25 16.88 585.04 Evelyn Woodhead single ! 40 1 14.35 21.53 595.53 Total Gross Wages 1725.39 Federal Income Tax State Income Tax Social Security Medicare Tax Total Deductions 37.00 3.84 33.78 7.90 82.52 Employee Floyd Woodcock Ralph Kafooty Evelyn Woodhead Total Gross Wages 43.00 4.32 36.27 8.48 92.07 55.00 5.20 36.92 8.64 105.76 135.00 13.36 106.97 25.02 280.35 Pay Gross Total Net Employee Wages Deductions Floyd Woodcock 544.82 82.52 462.30 Ralph Kafooty 585.04 92.07 492.97 Evelyn Woodhead 595.53 105.76 489.77 Total Gross Wages 1.725.39 280.35 1,445.04 Required: 1. Compute the following employer payroll taxes for the week ended April 7 a. FICA - Social Security - 6.2% on all wages b. FICA - Medicare - 1.45% on all wages C. FUTA -0.8% on wages d. SUTA-3.2% on wages 2. Prepare a journal entry to record the employer taxes on April 7. 3. Prepare a journal entry to record the payment of the taxes on April 10