During December, Luxury Crulse Lines incurs employee salarles of ( $ 3 ) million. Withholdings in December are ( $ 229,500 ) for the employee portion of FICA, ( $ 450,000 ) for federal Income tax, and ( $ 187,500 ) for state Income tax. The company Incurs an additional ( $ 186,000 ) for federal and state unemployment tax. These cos

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During December, Luxury Crulse Lines incurs employee salarles of  (  $ 3  ) million. Withholdings in December are  (  $ 229,500  ) for the employee portion of FICA,  (  $ 450,000  ) for federal Income tax, and  (  $ 187,500  ) for state Income tax. The company Incurs an additional  (  $ 186,000  ) for federal and state unemployment tax. These costs and expenses will be paid in January. Required: Determine the amount of accrued payroll and benefit costs Luxury Crulse Lines will report in its December balance sheet. Note: Enter your answers In dollars, not millions (l.e.,  (  $ 5.5  ) million should be entered as  (  $ 5,500,000  ) ).

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