For general tasks, it's best to acquire a number of twist drills (sometimes called Morse drills).
His drill was basically a twist drill, similar to those used to drill wood or metal.
With a standard twist drill, it is difficult to drill a straight and accurately sized hole of a depth more than about 5 times the diameter.
Drill a 1/2-inch hole, the mounting hole, with a twist drill or narrow spade bit near the top of the back panel.
Bits look similar to a twist drill; some cut on the upward twist, and some cut downwards.
Use a twist drill and operate the drill slowly.
You will need a selection of twist drills for the former, and wood bits in various sizes and patterns for the latter.
The plant employed up to 32 people making twist drills, and, during World War II, aircraft parts.
Regular twist drills or straight fluted drills have 2 lands to guide them through the hole.
Still, the standard twist drill has a tendency to chew up the surface somewhat as it penetrates into the wood.