Place a 12-inch-wide, 8-foot-long strip of 1/4-inch plywood on a work table. Center an 8-foot-long, very straight piece of 1-inch by 2-inch lumber onto the plywood. Hold the two in place with a pair of woodworking clamps.
Flip the assembly over and connect the two pieces of wood with 1-inch deck screws through the plywood and into the 1-by-2 using a power drill. The deck screws should be placed about 6 inches apart. Remove the clamps from the assembled panel jig.
Place the jig across a pair of sawhorses. Adjust the blade height of a circular saw to about 1/2 inch of blade exposed. Place the circular saw on one side of the jig, with the left edge of the base of the saw firmly against the 1-by-2. Depress the trigger, and cut the edge of the jig, keeping the left edge of the base of the saw firmly against the 1-by-2 fence as you cut.
Place the piece of plywood to be cut onto the sawhorses. Measure and mark the cut locations with a pencil. Align the freshly cut edge of the jig with the two marks, and clamp the jig onto the plywood.
Adjust the depth of cut of the saw to about 1 inch. Place the left edge of the base of the saw against the 1-by-2 fence and cut the plywood, keeping the base firmly against the fence of the jig.