Melt margarine in a small saucepan over medium heat.

Stir in flour to form a roux.

Gradually add milk, whisking until blended and smooth.

Cook until the sauce thickens, about 10 minutes, stirring constantly.

Remove the saucepan from heat.

Add shredded cheddar cheese to the sauce, stirring until the cheese is fully melted.

Stir in dry sherry, salt, ground red pepper, and onion powder.

Add drained diced pimento to the cheese sauce and mix well.

Preheat the broiler.

Arrange the lightly toasted Texas toast slices in a 13x9 inch baking pan.

Top each toast slice with 2 ounces of thinly sliced cooked turkey breast.

Add 2 tomato slices to each turkey-topped toast slice.

Sprinkle freshly ground black pepper over the tomatoes.

Spoon the prepared cheddar cheese sauce evenly over the tomato and turkey.

Sprinkle crumbled cooked bacon and paprika on top of the cheese sauce.

Broil until the topping is lightly browned and bubbly.