A bone cut positioning system and associated method are disclosed. The bone cut positioning system can include a positioning assembly. The positioning assembly can include a femoral attachment member configured to be fixed to a distal end of a femur, a light emitter mounting member configured to receive a light emitter, and a channel configured to receive a depth selector slide. Further, the positioning assembly can include a varus-valgus adjustment member configured to adjust a position of the positioning assembly relative to the femur to achieve a desired varus-valgus angle and a guide member removably coupled to the depth selector slide and configured to extend from the depth selector slide.