Heat oven to 350 degrees. Spray a 24 count mini muffin pan with non stick cooking spray. Set aside.
In a large bowl, beat together the butter, cane sugar and brown sugar on high for about 2 minutes.
Add egg, vanilla and cherry juice. Beat well on high for another 2 minutes.
In a medium sized bowl, sift together the flour and baking powder. Add to the butter/egg mixture. Beat on high until well blended, 2 to 3 minutes.
Place one teaspoonful of batter into each of the 24 mini muffin pan cups. Place a maraschino cherry into the center of each
Bake at 350 degrees for about 20 to 22 minutes or until toothpick inserted comes out clean.
Let stand for 10 minutes. Using a thin knife, gently loosen each mini muffin from the side of tin and place on a rack to cool. Let cool for about 15 minutes. Sift powdered sugar over.