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Diaz and Associates incurred the following costs in completing a tax return for a large company, Diaz applies overhead at 50% of direct labor cost.

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Diaz and Associates incurred the following costs in completing a tax return for a large company, Diaz applies overhead at 50% of direct labor cost. Labor Hours Used Hourly Rate Partner 8 $540 Senior manager 19 190 Staff accountants 130 70 2. Prepare the journal entry to record the cost of services provided. Assume the beginning Services in Process Inventory account has a zero balance View transaction list Journal entry worksheet

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