This report describes the results and methods of analysis in a study of reading program costs undertaken as part of a large-scale evaluation of compensatory reading programs. Using a resource approach to program-cost analysis developed for this study, costs were estimated for over 2,000 classes. The cost model provided a convenient and consistent framework for estimating costs and comparing results of reading programs across classes and schools. Analysis of the cost results showed that the costs of reading are related to the kinds of resources available, the program type, and the source of funds. Compensatory reading programs were found to be significantly more expensive per pupil than noncompensatory classes. Significant cost differences were shown to exist between program clusters, particularly regarding the use of staff and equipment resources. (Author/AA)