Combine ¾ cup flour, undissolved yeast, sugar and salt in a large bowl.
Heat milk, water and butter until very warm (120° to 130°F).
Add to flour mixture.
Beat 2 minutes at medium speed of electric mixer, scraping bowl occasionally.
Add ¼ cup flour; beat 2 minutes at high speed.
Stir in enough remaining flour to make soft dough.
Knead on lightly floured surface until smooth and elastic, about 8 to 10 minutes.
Cover; let rest 10 minutes.
Divide dough into 12 equal pieces; shape into balls.
Place in greased 8-inch round pan.
Cover; let rise in warm, draft-free place until doubled in size, about 30 minutes.
Bake in preheated 375°F oven for 20 minutes or until done.
Remove from pan; brush with additional melted butter, if desired.
Serve warm.