A computerized system for analysis of the cost/benefits of public investment in vocational education program in the state of Florida was developed and pilot tested. The Bobitt procedure, developed at the University of Florida to assess the economic benefits of selected vocational programs, was revised and expanded to permit determination of benefit-cost ratios and internal rates of return for postsecondary and adult (preparatory) vocational programs in Florida school districts and community colleges. The sample for the study consisted of students completing postsecondary or adult vocational training in the licensed practical nursing, cosmetology, and air conditioning/heating mechanics program in selected Florida postsecondary vocational/technical schools and community colleges. The vocational education cost-benefit system generates three sets of output reports: two sets of reports providing detailed listings of the data included on the student master file and the program master file, and a summary of the major steps in the benefit-cost ratio and rate of return calculations. A review of the data indicates that the computerized system does, in fact, work and provides data by programs, institutions, and type of institutions. Accuracy of the data could be improved by increasing the number of individuals in the study; this should reduce the likelihood of unreliable fluctuations in both the benefit-cost ratios and rates of return. The report includes procedures for implementing the system, a summary report of the calculation of benefit-cost ratios and rates of return, and a bibliography. (KC)