Ok, I could be wrong on the number here, but anything above Android 3 will have 24mb (16mb before that and varies from device to device) limit for the memory heap. And as with every JVM, the memory will be allocated almost in full, so your application won't need to do reallocations during its life-cycle.
That's not to say your application is actually running at 24mb, but has this allocated if it needs that.
I know you can also increase the amount of heap memory your application could use, but I'd suggest revisiting your code in case you feel the need to do so.
Obviously all that will get garbage collected as soon as your application is closed.
Update
Here's how you would increase the heap if needed:
android:largeHeap="true"