Home Depot will do the first 2 cuts for free. We had them cut the plywood in half so that the piece would be 24 inches for the height we were looking for and cut off the end for the width of our bed.
Here are the two pieces of plywood and my new staple gun!
I found the batting for about $6 at Joann Fabrics. It was $14.99 with 50% off and then an extra 15% off.
We worked on it over the weekend and finished it up on Monday. I am also working on some accessory pieces to help bring in some color to the room. I'm working on a step by step post, so stay tuned.