Altima,Inc

Altima,Inc.finished Job A40 on the last working day of the year.It utilized $300 of direct materials and $3,380 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 $5,032 and a credit to Materials Inventory $5,032
B) debit to Cost of Goods Sold $5,032 and a credit to Finished Goods Inventory $5,032
C) debit to Finished Goods Inventory $5,032 and a credit to Work-in-Process Inventory $5,032
D) debit to Work-in-Process Inventory $5,032 and a credit to Finished Goods Inventory $5,032