When you are new, it is not a stupid question. So do not be affraid to ask them.
There are a few types of processes that people use.
Basically, what you are doing, is either taking a extra fluffy pipe cleaner from a (PIPESHOP). not the regular ones. and not the ones with metal wrapped around them, there are a few different types.
Or there is also a bore prep stick, its kind of like a q-tip, white paper stick, but smaller for it to fit into the bore. We use to find them easier in stores, but not as easy as once was.
Then you insert them into your drill press or dremel, but low speed is key here. I do not recommend anything over 600 rpm.
Many prefer drill press, to try and move the wheel up and down as even as possible.
you dip the rod or pipecleaner into the graphite. insert wheel turn on drill press, move up and down for about 10 seconds. dip again and repeat.
i like to repeat this process 5 to 6 times on the wheel, i then flip it over and insert through the other side and repeat also.
Lots of lube is used. so its messy. So ma's table cloth may not be a good work area
Others can chime in on there process. but thats pretty much all there is too it.
There are a few videos out there showing this. off hand do not have one.