The Johnson Company manufactures tote bags and adds all materials at the beginning of the process. The cost of materials for the beginning work-in-process is $19,000 and material costs added during the period was $95,900. The equivalent units of production for materials is 49,000 units. Using the weighted-average method, what is the cost per equivalent unit for materials? A) $1.96 B) $0.39 C) $2.34 D) $3.34