Reference no: EM132506797

Pacific Company has a weekly payroll of $500,000. By the week of November 21, Pacific had the following:

Salaries paid to date less than $7,000 $ 20,000

Salaries paid to date more than $7,000 but less

than $137,700 (social security limit) 450,000

Salaries paid to date more than $137,700 but less

than Medicare limit of $200,000 30,000

Total Payroll for November 21 $500,000

• $100,000 is withheld for federal income tax, $15,000 is withheld for state income tax, the social security rate is 6.2% while the Medicare rate is 1.45%.
• Federal unemployment tax is 6.0% while the state portion is 5.4%.

Question a. Record the payroll for November 21.

Question b. Record the employer payroll tax expense for November 21.