Intro
Setting-type compounds are an excellent choice for the first coat. Even with the relatively thick application needed to fill cracks and embed tape, you won't have to wait for evaporation before you move to the second coat. This can be an enormous advantage when you're working in humid weather. In addition, setting compounds provide more strength to the joints.
But setting compounds can be cumbersome to mix, and they have a restricted working time. Once the compound starts to set, you must react quickly to clean your tools and trash any unused material.
Premixed compounds are also often called ready to use. But more accurately, they are nearly ready to use. At least once a day, redistribute the moisture within the bucket with a mud masher. Otherwise the water migrates to the top, leaving the compound at the bottom of the bucket too stiff for easy spreading.
Keep the bucket of premixed compound tightly sealed when you aren't removing material. A snug lid keeps the moisture from evaporating while excluding dust and other contaminants from the bucket.
Checklist
Time
5 or fewer minutes per batch
Tools
Mixing bucket, kitchen scale, measuring containers, 1/2-inch drill with mixing paddle, mud masher (for premixed compounds)
Skills
Measuring and mixing
Prep
All drywall panels are hung, scrap material removed, floor is clean, drywall knifes, mud pan, and tape are at hand
Materials
Setting-type compound, drinking-grade water