PREHEAT oven to 350°F. Grease 13x9-inch baking dish.
DIVIDE biscuits into quarters; place into prepared baking dish.
COMBINE salsa, beef, chiles, peppers, onions and olives in medium bowl. Pour over biscuits.
BAKE for 20 minutes. Sprinkle with Cheddar Cheese and Monterey Jack Cheese; bake for an additional 10 minutes or until cheese is melted.
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For years, attempts to "can" baked beans were unsuccessful, lacking flavor and texture. B&M re-ignited the tradition of baking beans in brick ovens allowing the flavor to slowly penetrate each bean. B&M then seals the beans to hold their New England flavor.