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Easiest way is to make them real dates like so
Then you get all the formatting (and datetrunc, datepart functions) of a real date.
Hope that helps
Check the attached workbook.
I just combined the month and the year using a calculated field ( [Month+"/"+[Year]) and then changed it to a date format. You can also do this by using MAKEDATE function as well.
Then right-click on the axis and click format to change its formatting.
Hope this helps.