To find the first moment of area and moment of inertia for two simply supported beams placed on top of each other under a vertical load, the parallel axis theorem is necessary for calculating the composite section's moment of inertia. If the beams act independently without transverse shear, the load can be evenly distributed between them. However, to determine the overall area moment of inertia, the individual moments of inertia must be combined using the parallel axis theorem, with the interface between the beams serving as the neutral axis. The discussion emphasizes that while the loads can be split equally, the calculation of the moment of inertia requires careful application of the theorem. Understanding these principles is crucial for accurate structural analysis in beam bending scenarios.