Apparatus for easily and quickly cutting with mininum waste workpieces, such as components for making mitered corner picture frames, from an elongate strip of material of any predetermined width, in which each workpiece has opposing ends which are equally and oppositely angled with respect to each other and an inside edge of predetermined length, as follows. A guide device positions the elongate strip of material at desired positions along a longitudinally extending axis. A saw makes spaced, successive, angular, parallel cuts through the elongate strip to form workpieces with parallel angular cut ends and thereafter cuts off and removes a wastepiece from one end of each cut workpiece by making an oppositely angled cut. A device is associated with the guide device and the saw for (1) providing a stop for properly positioning the strip of material regardless of the width thereof before each cut for making the next workpiece and (2) measuring the ultimate desired inside edge length of each workpiece to be cut from the strip of material while compensatively adding the necessary additional inside edge length to the workpiece being cut to provide an initially cut workpiece of the proper combined inside edge length for the subsequent cutting off of only a minimum waste, triangular shaped wastepiece which removes the additional inside edge length.