Musical comedy antics in an art deco bakery (motto: "Glorifying the American Doughnut") with Eddie Cantor as an assistant to a phoney psychic, who is mistaken for an efficiency expert and placed in charge. Complications ensue when the psychic and his gang attempt to rub the payroll.

When Helen Martin, the fitness instructor for the women workers at A. B. Clark's bakery, asks fake mystic Yolando for advice about love, Yolando promises that the man of her dreams will appear that day at eleven o'clock. The fraudulent medium then orders his browbeaten assistant, Eddie Simpson, to romance Helen. While Eddie is trying to dissuade Helen from an immediate marriage, Clark also consults Yolando and is told that a man who will build his business will arrive in his office at noon. After Clark leaves, Yolando sends his henchman, Joe-the-Frog, to impersonate a mysterious efficiency expert so that they can swindle Clark out of his money. Their plan is foiled, however, when Eddie arrives in Clark's office first while escaping from Helen. Eddie's zaniness appeals to Clark, and Clark hires him as an efficiency expert. Eddie is thrilled with this unexpected chance to go straight and after accepting the job, becomes infatuated with Clark's daughter Joan, who is in love with Steve Clayton, one of Clark's managers. Later that day, Yolando discovers that Eddie was hired instead of Joe and threatens to kill Eddie if he does not go along with the scheme. Hoping to convince Yolando to leave him alone, Eddie impersonates a French mindreader, Professor Ledoux, and tells Yolando to stop terrorizing the young man in his employ. Yolando sees through the disguise, however, when Eddie's excitement causes him to sing, a trait that has plagued Eddie all his life. Eddie is saved from a beating when Clark arrives for a reading, and the two leave together. As time passes, Eddie builds up business in Clark's bakery cafe by singing, and while Helen falls more in love with him, he becomes convinced that Joan returns his affections. One afternoon, Clark reveals to Eddie that he is going to announce Joan's engagement at a party that evening, and although Joan's intended is Steve, Eddie assumes that Clark is referring to him. Clark also gives Eddie $25,000 for safekeeping, but Yolando spots it, and Eddie puts the money in Clark's safe. When Joe and Yolando's other henchman, Plug Moynihan, try to get the safe's combination from Eddie, he is forced to take refuge in the girl's locker room and swimming pool until he hides the money by baking it in a loaf of bread. Eddie goes to Clark's party with the bread and is enjoying the festivities when a report arrives that the money has been stolen. Eddie tries to explain, but when he tears open the bread, there is no money inside. A police officer takes Eddie away, but Helen accompanies him, and the couple outwit the policeman and go to the bakery to find the bread. They run into Yolando and his men after finding the money, but are able to convince Clark over the telephone that Yolando has been playing him for a sucker. After Eddie and Helen battle with the crooks, the police arrive and make their arrest. The couple return to the party, where Eddie informs Clark that he loves Helen and cannot marry Joan, after which Helen finally gets Eddie to sing "yes, yes" in front of a judge.