Full mad hatter bit

The speaker is jokingly suggesting that the reason for someone's lateness is because their watch is full of wheels. They then mention butter and tea as things that they hadn't considered before. Well, no wonder you're late. It's carcass is exactly two days full. Aha! I see what's wrong with this watch. It's full of wheels. But, but, but, but, but, but... Butter? Of course it needs some butter. Butter! Tea? Oh, I never thought of tea, of course.