Canned cycle help needed ST10Y, G71

I am trying to get Bobcad to get me a basic can cycle to work. First off it wasn't entering M03 so I manually added the text. I set the tool with the probe, then did a Z face measure to set the offset in G54. When I ran the program it looked like the depth was way to deep to start so I changed the X in G54 to 0.4, it ran ok but it still didn't get me to the correct diameter of the part. I made the correction to the of set to .356 and the part was dead on. It takes such a deep cut right off the bat that the tool pushes the stock into the chuck.

What I could use help with is;

What should the X offset in G54 be based on this program?
Why is it taking a .1 cut right off the bat?

Thank you, Prescott

(Machine Setup - 1-Feature Lathe End Face-Rough)
(TOOL #2 )
N01 T202
N02 G00 G20 G40 G80 G99
N03 G50 S1000
N04 G96 S500 M03
N05 G00 G54 X0.6024 Z1.1
N06 M08
N07 Z1.
N08 G72 P09 Q14 U0. W0. D0.05 F0.015
N09 G00 Z0.
N10 G01 X0.5024
N11 X0.0863
N12 X0.
N13 X0.1
N14 Z1.
N15 G00 X0.6024 Z5.
N16 X5.

(Machine Setup - 1-outside turn-Rough)
(TOOL #2 )
N17 G50 S1000
N18 G96 S500 M03
N19 G00 G54 X1.5024 Z0.2
N20 M08
N21 X0.5054
N22 G71 P23 Q35 U0.003 W0.003 D0.01 F0.015
N23 G00 X0.45 Z0.2
N24 G01 Z0.1
N25 Z-0.1793
N26 X0.4497 Z-0.1875
N27 X0.4493 Z-0.1898
N28 X0.4486 Z-0.1917
N29 X0.4476 Z-0.1936
N30 X0.4463 Z-0.1953
N31 X0.4438 Z-0.198
N32 X0.3425 Z-0.283
N33 Z-1.9
N34 X0.4425
N35 G00 X0.5024
N36 X5. Z0.2
N37 Z5.