Mix ground beef, breadcrumbs, egg, oregano, salt and pepper in a bowl. Knead the mixture with your hands until is is all mixed.
Form meatballs 2 inches in diameter. Reserve.
In a saucepan, pour Molli Morelos cooking sauce and chicken broth; bring to a boil. Season with salt and pepper, if desired.
Reduce heat to medium-low. Add meatballs to the saucepan ensuring all are covered by the sauce. Cover with a lid and simmer for 10 minutes.
Season with salt and pepper. Simmer, uncovered, for another 10 min.
Serve with rice and beans.