Preheat oven to 375 degrees Fahrenheit. Combine sugars, margarine, eggs, and vanilla; beat until light and fluffy. Add flour, baking soda, baking powder, and salt. Mix well. Stir in oatmeal and cereal.
Drop by teaspoon onto ungreased cookie sheet two inches apart.
Bake 8-10 minutes or until golden brown. Cool slightly before removing.