A forstner bit  is best for drilling acrylic. Use low rpm regardless (250 rpm) with a non-staining lubricant like a baking soda/ water solution. Also easier to obtain in mm sizes. practice on scrap and you should see  a clean cut on the side of the hole. Take care if you're on the East coast, I'm in the Panhandle and we may dodge Irma. Good luck with all,

Jim

Fostner bit as stated, but best results would be in a pillar drill.  Pretty cheap now a days…

I used the right sized paddle bit for the wood holes as what was needed for the buttons, so yes I had to order the bits from on line.  To make clean holes, clamp the CP down to another board beneath it and this will prevent blowouts in the wood.  Once you have those cut, I laid the acrylic piece on top of the CP and clamped that down good too.  Then with a 1/2" paddle bit I drilled a hole in the center of the acrylic where each hole was.  The trick is to use light pressure on the drill and just let the dril do its job and make sure the paddle bit is new and sharp.  Then I moved on to my router using a 1/4" flush bit with a bearing at the bottom and routed out all holes using the highest rpm setting on the router, I think it was 23000 rpm.  The holes came out perfect.  I also use the same bit to trim the acrylic around the CP.