One reliable method that can be used to verify the solution scheme of a computer code is to compare the code prediction to a simplified problem for which an analytic solution can be derived. An analytic solution for the axial pressure drop as a function of the flow was obtained for the simplified problem of homogeneous equilibrium two-phase flow in a vertical, heated channel with a cosine axial heat flux shape. This analytic solution was then used to verify the predictions of the CONDOR computer code, which is used to evaluate the thermal-hydraulic performance of boiling water reactors. The results show excellent agreement between the analytic solution and CONDOR prediction.