Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $55,000 but that employec income taxes totaling $7,500 and FiCA taxes totaling $2,875 were withheid from this amount. The net pay was directly deposited into the employees' bank accounts. Required: 1. What was the amount of net pay? 2. Assuming Lightning Electronics also must pay $300 of unemployment taxes for this pay period, what amount would be reported as the total payroll costs