Heat oven to 375°F. Grease and flour 8 or 9-inch round cake pan. In large bowl, combine flour, 1/2 cup sugar, baking powder and salt; mix well. With pastry blender or fork, cut in margarine until mixture resembles coarse crumbs. Add milk and eggs, stirring just until dry ingredients are moistened. Spoon into greased and floured pan.
Bake at 375°F. for 25 to 30 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes.
Meanwhile, in medium bowl, combine strawberries and 1/2 cup sugar; mix well. Refrigerate 30 minutes or until serving time.
Just before serving, in small bowl, beat whipping cream until soft peaks form. Add powdered sugar and vanilla; beat until stiff peaks form.
Invert shortcake onto serving platter. If desired, split shortcake into 2 layers. Serve shortcake topped with strawberries and whipped cream. Store in refrigerator.