A new and extended formulation of the random phase approximation (RPA) in the study of statics and dynamics of multicomponent polymer mixtures is presented. The new formulation simplifies the implementation of the RPA in both compressible and incompressible mixtures and allows the inclusion of hydrodynamic interaction in the dynamics of polymer melts in the RPA. The dynamics of copolymer melts with hydrodynamic interaction is studied in detail as an illustration of the extended formulation, and the variation of the first cumulant as a function of the wavenumber and interaction parameter is obtained.