The invention relates to a device for storing, mixing, and applying polymethylmethacrylate bone cement, and to a method for producing a polymethylmethacrylate bone cement therewith. The device and method separates the processes of pressing out and mixing both in time and in space, rather than simultaneously combining the processes of pressing out and mixing through the use of static mixers, which is common with pasty two-component polymethylmethacrylate bone cements. The liquid, pasty and/or powdery components of the bone cement are mixed in a manually operated mixer into a cement dough before being pressed out in a homogeneous mixture. The press-out force required for dispensing is low and manually operated inexpensive cementing guns can be used. A mobile volume compensation element is used to compensate for volume fluctuations during the mixing process, without any cement dough exiting and without air being drawn into the cement dough.