SteinbornSteinborn Construction, Inc., is a home builder in Arizona. SteinbornSteinborn uses a job order costing system in which each house is a job. Because it constructs houses, the company uses accounts titled Construction overhead. The company applies overhead based on estimated direct labor costs. For the year, it estimated construction overhead of $ 1 comma 000 comma 000$1,000,000 and total direct labor cost of $ 2 comma 000 comma 000$2,000,000. The following events occurred during August: LOADING... (Click the icon to view the events.) Requirement 1. Calculate SteinbornSteinborn's construction overhead application rate for the year. SteinbornSteinborn's construction overhead application rate for the year is nothing%. Requirement 2. Prepare journal entries to record the events in the general journal. (Record debits first, then credits. Explanations are not required.) Start with the entry from event (a): Purchased materials on account, $ 410 comma 000$410,000.