Steep banks, weed prevention fabric, and mulch, don't usually go too well together.
This is because you tend to get a lot of mulch slippage, especially during times of high winds and heavy rains.
But to answer your query, it should be......
(A) - put weed cover down and then cut holes for plants.
In my experience you will have less slippage if you omit the fabric, instead opting for a deeper layer of mulch.
An angular stone chipping will tend to slip less as well.
But best of all would be to terrace the slope, see here...... [broken link removed]
Like you we had a steep bank but instead we got it terraced so there is an upper tier and a lower tier, I then put not plastic but a black heavy type mesh and then a good layer of stones it was expensive but worth it the odd weed comes up but I spray once or twice during the heavy growing season and this does the trick. We had mulch once but I found it blew away - drove me mad.