Step 1

Preheat oven to 400°F. Cut hole in center of each of 4 of the bread slices, using 1-1/2-inch cookie cutter or rim of drinking glass. Discard removed bread circles or reserve for another use.

Step 2

Spread remaining bread slices with margarine. Place, margarine-sides down, in 13x9-inch baking dish; sprinkle with 1/2 cup cheese. Top with cut-out bread slices to make four sandwiches. Break 1 egg into each hole. Sprinkle with remaining 1/4 cup cheese and the bacon.

Step 3

Bake 15 to 20 min. or until cheese is melted and eggs are set.