Preheat oven to 350 degrees Fahrenheit.

Cream together margarine and sugars in large mixer bowl. Add eggs.

In a separate bowl, combine dry ingredients and add to margarine mixture, alternating with orange juice. Stir in chocolate chips and mix into batter.

Pour into greased and lined nine-x 13-inch pan and bake for 45 to 55 minutes, or until toothpick inserted in center comes out clean. Remove from oven and set aside to cool.

Dissolve cocoa in water. Add oil.

Mix in confectioners’ sugar until glaze reaches correct consistency. If too thick, add water 1/2 teaspoon at a time.