Beat the butter and cream cheese in a large bowl with a hand mixer. Add the egg, almond extract, and orange extract and mix until combined.
Add the cake mix and mix with the hand mixer until fully combined. Stir in ¼ cup of the sprinkles by hand. Cover the bowl with plastic wrap and chill in the refrigerator for at least 1 hour, or up to 24 hours.
Once the dough has finished chilling, preheat the oven to 350 degrees Fahrenheit and line 2 baking sheets with parchment paper.
Use a 1-inch cookie scoop to scoop the dough before rolling it into uniform balls. Sprinkle a few sprinkles on the cookie ball before rolling in the powfered sugar until completely coated.
Place the dough on the prepared baking sheets, leaving 2-inches between each.
Bake for 10-11 minutes, until the edges have set. Allow the cookies to cool on the baking sheet for two minutes before removing them to finish cooling on a cooling rack.