Altima, Inc finished Job A40 on the last working day of the year

It utilized $370 of direct materials and $3,420 of direct labor. Altima uses a predetermined overhead allocation rate based on a percentage of direct labor costs, which has been fixed at 40%. The entry to record the completion of the job should involve a ________.
A) debit to Finished Goods Inventory $5,158 and a credit to Materials Inventory $5,158
B) debit to Cost of Goods Sold $5,158 and a credit to Finished Goods Inventory $5,158
C) debit to Finished Goods Inventory $5,158 and a credit to Work-in-Process Inventory $5,158
D) debit to Work-in-Process Inventory $5,158 and a credit to Finished Goods Inventory $5,158

C .C)
Cost of Job A40:
Direct materials utilized $370
Direct labor 3,420
Manufacturing overhead allocated ($3,420 x 40%) 1,368
Job cost for Job A40 $5,158

Journal entry:
Finished Goods Inventory 5,158
Work-in-Process Inventory 5,158