Sketchucam center cut questions.

I have a project I need to cut a 1/8th" by 9/32" slot in a piece of .230" plexiglass along a line. I'm using a 1/8th" bit. The path should be centered on this line.

Trying the center cut tool I could not find a way to set the slot width. Is there any?

Can the depth of cut be set directly and not have to try to figure out what percent of .230 is 1/8th" deep?

Thanks
Bruce