Diaz and Associates incurred the following direct labor costs in completing tax services job for a client. Diaz applies overhead at 50% of direct labor cost. Hours Hourly Direct Labor on Tax Job Used Rate Partner 5 $ 500 Senior manager Staff accountants 12 100 200 50 1. Determine the total cost of this tax services job. Estimated Cost Direct labor type Hours used Hourly rate Labor Cost Total Cost Partner 5$ 500.00 $ 2,500 Senior manager 12 $ 200.00 2,400 Staff accountants 100 $ 50.00 5,000 Total direct labor cost $ 9,900 Overhead Estimated Applied Overhead OH Base $ OH rate 9,900 50.0% 4,950 Total cost $ 14,850 2. If Diaz charged $20,000 for this tax services job, what is the gross profit for the job? Gross profit Diaz and Associates incurred the following direct labor costs in completing tax services job for a client. Diaz applies overhead at 50% of direct labor cost. Hours Hourly Direct Labor on Tax Job Used Rate Partner 5 $ 500 Senior manager Staff accountants 12 100 200 50 1. Determine the total cost of this tax services job. Estimated Cost Direct labor type Hours used Hourly rate Labor Cost Total Cost Partner 5$ 500.00 $ 2,500 Senior manager 12 $ 200.00 2,400 Staff accountants 100 $ 50.00 5,000 Total direct labor cost $ 9,900 Overhead Estimated Applied Overhead OH Base $ OH rate 9,900 50.0% 4,950 Total cost $ 14,850 2. If Diaz charged $20,000 for this tax services job, what is the gross profit for the job? Gross profit