Preheat oven to 350 degrees. Mix all cake ingredients and portion into lined and greased cupcake pans. Bake for 18-22 minutes, or until a toothpick inserted into the center comes out dry.
For the frosting, mix the room temperature cream cheese and butter with an electric mixer for at least 3 minutes or until light and fluffy. Gradually add the powdered sugar and mix until smooth. When the cupcakes are cooled completely, decorate them as desired; sometimes I add red sprinkles or chopped pecans to the top. Enjoy!
Note: This can also make a 3-layer cake using 9" cake pans. Adjust your baking time to 45-55 minutes.