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In the series configuration of the LC circuit, the inductor (L) and capacitor (C) are connected in series, as shown here. The total voltage V across the open terminals is simply the sum of the voltage across the inductor and the voltage across the capacitor.
Power factor is a ratio of real power -- what is used by the device -- to apparent power -- load present in the circuit. Power factor (real power/apparent power) is a dimensionless number between 0 and 1. Apparent power is the product of current and voltage in a circuit while real power is the measure how much useful work is produced in the circuit. A linear, pure resistive load will have a power factor of 1 versus an induction motor with a typical range of 0.70 up to 0.90.