June has had it with Wally and Beaver's fighting and demands they make a pact to be nice to one another and do things together. However, when each boy gets an invitation for individual social outings, they each attempt to break the pact.

Wally and his friends are trying to earn enough money to buy baseball uniforms. They put a plan into action by doing their chores at a slow pace in order to maximize their hourly pay. Meanwhile, Beaver, also wanting to be on the team, begins selling water to his family and neighbors.

Wally goes away on a trip with the Boy Scout troop that he belongs to, leaving a lonesome Beaver behind. Finding his friends to be busy, Beaver takes up other means to make the time go by.

Ward becomes a bit jealous when Wally and Beaver begin spending time playing basketball at Willie Dennison's house after Willie's dad put up a backboard and a basket. This prompts Ward to do the same thing but it just seems like things are working against him being the perfect father.

While playing baseball in the street with Wally, Chester and Tooey, Eddie hits a baseball through the Cleaver's window resulting in Ward forbidding the boys to play baseball so close to the house. However, later, Beaver talks Wally into pitching one, but this results in a broken car window.

An eighth grade dance has Wally being pressured into attending with a girl, instead of going stag with Eddie. However, Mary Ellen Rogers becomes determined to have Wally take her and goes through Beaver to get to him.

Wanting to be liked by Wally's friends, Beaver makes up a wild story about the vacant lot next to his house being an Indian battle ground. After making a bet with Eddie, Beaver has Wally help him plant artifacts in the lot. However, that is forgotten when the kids make a discovery that they believe will make them rich.

After a weekend spent at the movies goes awry for Ward, he decides the boys should spend their weekends outside and plans a camping trip. However, when Ward's called into work, Wally and Beaver decide to camp out in the backyard.