Arrange the piece of rigid foam so it will be convenient to reach and cut the line. You can place the foam on the floor, lean it against a wall or set it on a work surface such as a saw horse.
Measure each end of the rigid foam and make marks to indicate where to cut the material.
Snap a chalk line from one mark to the other. Scribe along a straight edge, such as a 4-foot level or a piece of wood, to create a cutting line as another option.
Adjust the utility knife blade so it will penetrate through half of the rigid foam's depth.
Cut the rigid foam along the marked line, starting at one end and working across to the opposite side.
Bend the rigid foam gently on the opposite side of the scribed cut until the material snaps in half.
Mark the radius line on the face of the rigid foam using a compass tool. For larger objects, make a mockup of the cutout on a piece of cardboard and lay it on the rigid foam. Trace around the mockup directly onto the face of the rigid foam.
Insert the tip of a keyhole saw through the rigid foam along the cutout line.
Moving the keyhole saw in an up-and-down motion, cut along the radius cutout line until the task is complete.