Divide dough into two balls and roll each on a floured surface; Brush oil over dough. Spread tomato sauce on one side of each circle, leaving the edge. Top evenly with mozzarella, ricotta cheese, pepperoni and mushrooms. Fold dough over to form a pocket and roll up the edges, sealing with a fork. Brush with olive oil.
Transfer calzones to a baking sheet lined with parchment paper and bake at 500° for eight minutes or until crust is browned and crisp.