QB Cloud has become quite successful over the past months, so you’ve decided to hire two part-time employees to assist you with sales and office duties. In researching your computerized accounting program, you’ve found that it doesn’t include the options to perform payroll calculations and print paychecks. To computerize the payroll calculations and assist you in drafting the journal entries, you decide to use Microsoft Excel for the necessary payroll functions.Complete the following using the Module 05 Payroll Transactions template Calculate payroll for Karen Rodriguez and Adam Seyd for the June 14th and June 28th payrolls. These employees are paid bi-weekly, meaning every other week.Journalize the transactions necessary to record the payroll.Address the following questions:What is the total cost to the company of having these two employees for the month of June?What additional costs would be associated with adding one more employee for 10 hours per week at $15 per hour? Would it be more beneficial to add an additional part time employee or distribute the additional hours needed to the current part time employees? Explain.The following information will be necessary in your calculations:Employee Information: Hourly RateJune 14June 28Karen Rodriguez$18/hour24 hours worked22 hours workedAdam Seyd$16/hour15 hours worked20 hours workedAdditional Tax and Withholding Information:Employee ResponsibilityEmployer ResponsibilityFederal Income Tax10% of gross paynoneState Income Tax5% of gross paynoneFICA Tax7.65% of gross pay7.65% of gross payState Unemploymentnone2% of gross payFederal Unemploymentnone0.8% of gross pay