In large skillet, melt margarine and sauté rice and noodles in it for 15 minutes until golden brown.
In a four-quart saucepan, bring water and onion soup mix to a boil. Combine water with rice and noodles.
Add water chestnuts and mushrooms, mixing well.
Pour into nine- x 13-inch pan. Bake covered, at 350 degrees Fahrenheit for 40 minutes.
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