Cream the sugar and margarine at medium speed of a mixer until light and fluffy (about 3 minutes). Add molasses, vanilla, and egg; beat well. Combine flour, oats, cereal, wheat germ, and baking soda; stir well. Gradually add to creamed mixture, beating well. Stir in cranberries and apricots.
Drop the dough by level tablespoons onto baking sheets coated with cooking spray. Bake at 350° for 10 minutes; let cool on pans 1 minute. Remove from pans; let cool completely on wire racks.