Preheat oven to 350° F. Spray donut pan with non-stick cooking spray, set aside.
Whisk together dry cake mix, egg, vegetable oil and milk until combined.
Pour batter into a piping bag or large, gallon sized ziplock bag and snip off small portion of one corner. Squeeze batter into donut pan until cups are about 1/2 full.
Bake for 10-12 minutes. Remove donuts and allow to cool completely on wire rack.
Topping
Pour melting chocolate wafers into microwave safe bowl and microwave for 1-2 minutes on low or defrost setting. Stir and continue to heat at 30 second intervals until chocolate is completely melted and smooth.
Dip cooled donuts about halfway into the chocolate, then lift and turn sideways to let excess drip. Place donuts back on wire cooling rack.
Top with sprinkles immediately before the chocolate sets or the sprinkles won’t stick.