I am showing the cutting of 2 sets of fabric here. I would usually be cutting 5 sets at the same time for time efficiency. I always put the dark fabric on the bottom and the lighter one on top. You can see your cuts on the lighter fabric.
I trim just the smallest amount off at the selvage. Then I make two 8" cuts and one 3.5" cut.
Take the little piece that is leftover at the fold end, unfold it and cut one 2" piece from it.