Beginning WIP has $5,000 of direct materials costs in it. During the current period the firm incurred $27,000 in additional WIP costs. Total equivalent units with respect to direct materials is 415 (use this number as total equivalent units for both FIFO and weighted average methods).

Which of the following is TRUE (rounding rates to cents if necessary)?

	a.	Under the FIFO method, direct materials cost is: $65.06 per equivalent unit. Under the weighted average method, direct materials cost is: $77.11 per equivalent unit.
	b.	Under the FIFO method, direct materials cost is: $77.11 per equivalent unit. Under the weighted average method, direct materials cost is: $65.06 per equivalent unit.
	c.	Under the FIFO method, direct materials cost is: $65.06 per equivalent unit. Under the weighted average method, direct materials cost is: $53.01 per equivalent unit.
	d.	Under the FIFO method, direct materials cost is: $53.01 per equivalent unit. Under the weighted average method, direct materials cost is: $65.06 per equivalent unit.