Line 12 medium muffin cups 2 1/2x 1 1/4-inch with paper baking cups. Mix baking mix, sugar and margarine until crumbly. Add milk and mix until dough forms; beat 15 strokes. Place 1 tablespoon dough in each cup, top with 1 teaspoon preserves. Drop remaining dough onto preserves. Bake until golden brown. 10-15 minutes. Immediately remove from pan. Spread with Vanilla Glaze while warm. 12 biscuits.
Vanilla Glaze: Beat 1/2 cup powdered sugar, 1 tablespoon warm water and 1/4 teaspoon vanilla until smooth.