For a project I was building, I had to drill a centered hole in the end of several 1⁄2" dowels. To keep all of the holes consistently centered, I made this simple jig for my plunge router.
The body of the jig is just four pieces of plywood glued together with a base made a little larger to act as a clamping surface. The holes in the center of the jig are sized to accommodate the dowel and a router bushing.
Start by clamping the dowel in a vise. Place the jig over the end of the dowel until it stops. With a bushing attached to the router, plunge a spiral bit into the end of the dowel to drill a centered hole.