Name of an Old Horror Thriller Movie from the 80s or 90s?

I can't seem to find an old horror movie I remember watching when I was a kid. It opens up with a guy on a payphone calling his old friends telling them he just got out of prison. When they were in college or something they got drunk and supposedly killed a lady and buried her body in the woods.

The guy who took the fall for the group had to call everyone together and the four of them had to regroup to excavate and move the body or something. There was some drama and the guy who went to prison for the group got shot or stabbed while they were excavating the body. It ended up being a prank in the end and he actually buried a mannequin instead. That's all I remember. I hope someone knows the title.

Thank you.