Final answer:
In a process costing system, the percentage of completion factors are obtained from the production records. This information is used to allocate manufacturing costs to partially completed units and determine the cost per unit.
Step-by-step explanation:
In a process costing system, the percentage of completion factors are normally obtained from the production records. These records track the progress of each unit as it goes through different stages of production. The percentage of completion for each unit is calculated by comparing the actual work completed to the total work required.
For example, if a unit is 50% complete, it means that half of the total work required to complete that unit has been done. This information is used to allocate manufacturing costs to partially completed units and determine the cost per unit.