Combine all cupcake ingredients in a large mixing bowl and beat with a mixer until well blended.
Turn mixer on high and beat for three more minutes.
Line a muffin pan with 24 paper muffin cups.
Fill each cup about 3/4 full with the cupcake mix.
Cook in preheated 350 degree oven for 20 minutes or until a toothpick inserted into the cupcake comes out clean.
Allow to cool before removing from pan.
To make the frosting, combine all frosting ingredients in a large bowl and beat until smooth.
Frost cupcakes after they are completely cooled.