Spread 4 cups toasted bread cubes (6 slices) in bottom of greased 13 1/2 x 8 3/4 x 1 3/4 inch baking dish. Sprinkle 8 ounces natural Cheddar cheese, shredded (2 cups), over bread. Blend 8 slightly beaten eggs, 4 cups milk, 1 teaspoon salt, 1 teaspoon prepared mustard, 1/4 teaspoon onion powder and 1/8 teaspoon pepper. Pour over bread-cheese mixture. Bake at 325 degrees until egg mixture is set, 40-45 minutes.
Meanwhile, crisp-cook and crumble 10 slices bacon. Sprinkle atop casserole during last 10 minutes of baking. Makes 10 servings.