Bring applesauce to a boil in a small saucepan; remove from heat.
Stir in oats and raisins; cover and let stand 20 min.
(Mixture will be thick and will thicken up more while standing, so you should have the rest of the batter ready by the time the 20 min. are up.) Beat butter at medium speed with an electic mixer until fluffy.
Gradually add sugar, beating well.
Add egg and beat well.
Combine dry ingredients and add gradually to creamed mixture, mixing just until blended after each addition.
Stir in applesauce mixture.
Pour batter into a 9-in. square pan that has been sprayed with nonstick spray.
Bake at 350 for 30-40 min. or until a toothpick inserted in center comes out clean.
Cool in pan on a wire rack.
(I found I liked this best served slightly warm.).