Step 1

Melt butter in a medium saucepan over medium-high heat. Add flour; cook, whisking constantly, to combine, about 30 seconds. Add broth; cook, whisking constantly, until well combined, about 30 seconds. Continue to cook, whisking constantly, until the mixture thickens, about 3 minutes. Remove from heat. Stir in salt and 1 1/2 teaspoons each sage and thyme. Cover the gravy to keep warm, and set aside.

Step 2

Heat 1 tablespoon oil in a medium nonstick skillet over medium heat. Add onion; cook, stirring occasionally, until golden brown and very soft, about 15 minutes, adding a bit of water if needed to keep the onion from browning too much. Remove from heat. Transfer the onion to a plate.

Step 3

Wipe the pan clean. Add the remaining 2 tablespoons oil; heat over medium-high heat. Add mushrooms; cook, stirring often, until deep golden brown, 6 to 8 minutes. Remove from heat.

Step 4

Spoon half of the gravy evenly over toast (about 3 tablespoons per slice); top evenly with turkey and the remaining gravy. Top evenly with the onion, mushrooms and cranberry sauce. Sprinkle evenly with remaining 1/2 teaspoon each sage and thyme. Serve immediately.