A recording studio sometime in 1982..... Captain: "Give us some military intro music, but put a subtle porn theme" Captain: "Nice. But add some base and a little cowbell?" Captain: "Nice. Now add some horns"
In the room inspection scene at 4:30. Both the guy talking about dusty shoulder boards and the two women portraying 4thclassmen are Class of '83. Probably over the summer of '82 into the fall school year. Not sure about the graduation scene.