Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000 of earnings. Social Security tax on the employer is 6.2% on the first $128,400 of earnings, and Medicare tax is 1.45% on gross earnings.           Taxable Earnings Employee Name Cumulative Pay Before Current Earnings Current Weekly Earnings Unemployment Compensation Social Security Click, Katelyn       $6,660      $850       Coombs, Michelle   6,380      750       Fauss, Erin   23,010      1,220       Lenihan, Marcus   6,900      980       McMahon, Drew   125,200      5,260       Newell, Marg   25,150      1,110       Stevens, Matt   28,970      1,240

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