Hoping to attract customers to Spanky's barnyard production of Romeo and Juliet, star performer Alfalfa proposes a "pay as you exit" policy: If the kids like the show, they'll pay the allotted "one penny" admission on the way out.
Alas, the show is nearly over before it starts when leading lady Darla walks out, complaining that Alfalfa has been eating onions (which, he insists, improves his splendid speaking voice.) Spanky stalls for time in a cute weight-lifting act, but Porky stole the show. Alfalfa hits upon a replacement for Darla: Buckwheat, decked out in a lovely blonde wig and Juliet costume. When the kids in the audience recognize him, they clap and cheer and call out, "It's Buckwheat! Hooray for Buckwheat!"
However, the ladder Alfalfa is standing on gives way; Buckwheat saves him before he falls. When the ladder gives way again, Alfalfa tells Buckwheat to hold on tight, but the aroma of onions gets to Buckwheat, causing him to let go. As the ladder weaves, Spanky drops the curtain and Alfalfa and the ladder then tear through it and into the audience, much to their laughing delight.
When the audience leaves, Spanky admonishes him for his "pay as you exit" scheme. But pay they did and Alfalfa and Spanky eat onions as a toast to their success.
Darla Hood as Darla
Eugene Lee as Porky
George McFarland as Spanky
Carl Switzer as Alfalfa
Billie Thomas as Buckwheat
Joe Cobb as Leader of the audience kids
John Collum, Rex Downing, Jack Egger, Paul Hilton, Sidney Kibrick, Harold Switzer, Marvin Strin, Robert Winckler