Measure and mark the plywood where you want to cut it.
Measure the width from the saw blade to the outside of the saw shoe for the guide line. Mark this line on the plywood, line up the 1-inch by 2-inch piece of lumber with your guide line and clamp it in place with the C-clamps.
Set the foam on a flat surface, such as the driveway, and lay the plywood on top of the foam so the edges all line up.
Adjust the cutting depth of the blade to 1/4 inch deeper than the plywood is thick.
Make sure that when the edge of the saw's shoe is held against the 1-by-2-inch lumber that the blade lines up with the cut line.
Power up the saw, hold it snug against the 1-by-2-inch guide, and push it down the length of the plywood to make your cut.