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Preheat oven to 350 degrees. Line (2) 12 slot cupcake pans with baking cups.
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In a medium bowl, mix together cake mix, juice, sour cream, applesauce, cinnamon, and eggs together for 30 seconds on low and then 2 minutes on medium speed.
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Spoon batter into prepared baking cups, only filling 2/3 of the way. (To minimize dripping, I use a medium cookie scoop and fill it 1.5 times with batter per cup.)
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Bake for 5 minutes, then gently drop 2-3 M&M's® Carrot Cake into the center of each cupcake.
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Continue baking for another 10-13 minutes or until toothpick inserted in center comes out clean.
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Remove from heat and allow to cool completely on wire racks before frosting.
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While cupcakes are cooling, prepare frosting.
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Mix together cream cheese and butter until light and fluffy - about 2 minutes.
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Then add all other ingredients and mix until desired consistency. If frosting is too thick, you can continue adding milk, 1 tablespoon, at a time until desired consistency.
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Using a piping bag and Wilton 1M tip, pipe frosting onto cooled cupcakes.
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Top with a M&M's® Carrot Cake and serve!