Make mac & cheese as directed on box. Stir in shredded cheese and 1/2 cup of the bread crumbs. Cover; refrigerate about 20 minutes or until firm.
Line large cookie sheet with cooking parchment paper. Using 1/4-cup measuring cup, scoop mac & cheese mixture into balls; roll in remaining bread crumbs. Place on cookie sheet. Freeze 30 minutes.
In deep fat fryer or heavy saucepan, heat 3 inches oil to 375°F. Fry balls in hot oil in small batches 1 to 2 minutes or until golden brown. Drain on paper towels. Serve hot with ranch dressing or barbecue sauce, if desired.