We see several teenagers smoking or holding cigarette at a party.
There are no drugs in the film, nor is there any reference to illegal drug use.
A lead male character is the designated key holder at a party, and decides to drive a party member home, rather than let him drive himself home. He drinks one beer with the implication that one beer is not enough to get him drunk.
Several male characters smoke cigarettes. Incongruously, Diane, Sheila, Corey, Evans, and Rebecca do not smoke.
Teenagers are depicted drinking alcohol at a party and getting drunk. Kegs are referenced and shown. The two main characters, however, are not shown getting drunk.