The recent technological advances related to computing, storage, cloud, networking and the unstoppable deployment of end-user devices, are all coining the so-called Internet of Things (IoT). IoT embraces a wide set of heterogeneous services in highly impacting societal sectors, such as Healthcare, Smart Transportation or Media delivery, all of them posing a diverse set of requirements, including real time response, low latency, or high capacity. In order to properly address such diverse set of requirements, the combined use of Cloud and Fog computing turns up as an emerging trend. Indeed, Fog provides low delay for services demanding real time response, constrained to support low capacity queries, whereas Cloud provides high capacity at the cost of a higher latency. It is with no doubt that a new strategy is required to ease the combined operation of cloud and fog infrastructures in IoT scenarios, also referred to as Combined Fog-Cloud (CFC), in terms of service execution performance metrics. To that end, in this paper, we introduce and formulate the QoS-aware service allocation problem for CFC architectures as an integer optimization problem, whose solution minimizes the latency experienced by the services while guaranteeing the fulfillment of the capacity requirements.