Put broken up pieces of doughnuts in bottom of dish. Pour condensed milk over top and then fruit cocktail. Bake at 350 degrees for 30 minutes. In a small pot melt margarine and stir in sugar; drizzle this on warm pudding!
Note: The margarine/confectionery sugar quantity may be more than you need. To cut down on the richness, you may use your own cake glaze recipe or just use a half-stick margarine instead of a full one, and add sugar a little at a time until it is the right consistency to drizzle.