Bud refers to a "Peggy Joyce" twice when talking to John about setting him up with dates. He is referring to Peggy Hopkins Joyce, a well-known actress, model, and dancer at the time, who had already married and divorced four (eventually six) wealthy men and led a lavish and scandalous lifestyle. At one point in 1928, she was so wealthy that she purchased the 127 ct. Portuguese Diamond for $373,000 ($6.58M in 2023). The diamond is in the Smithsonian's National Gem Collection.
The $62.50 John makes per week would equate to $1,430 in 2023.
Edward G. Robinson's wife, Gladys Lloyd, appears in an uncredited role. This is one of five films the couple made together from 1931-32.
Even though the "Motion Picture Production Code" was established in 1930, it was not strictly enforced until 1934. Evidence of that is during the dance hall scene where Vivienne Osborne is seen with significant side breast exposure.