This result is misleading.
First, the code claims to be returning "unsigned long" from each of these functions, but the value will only ever be 0 or 1 (see [1]). The code is actually throwing away the result and just returning whether overflow occurred. If we take unsigned long *c as another argument to the function, so that we actually keep the result, we end up having to issue an extra instruction for multiplication (see [2]; I'm ignoring the sd instruction since it is simply there to dereference the *c pointer and wouldn't exist if the function got inlined).
Second, this is just unsigned overflow detection. If we do signed overflow detection, now we're up to 5 instructions for add and mul (see [3]). Considering that this is the bigger challenge, it compares quite unfavorably to architectures where this is just 2 instructions: the operation itself and a branch against a condition flag.
[1]: https://gcc.gnu.org/onlinedocs/gcc/Integer-Overflow-Builtins...
That's fair. The good news is that for signed overflow, you can claw back to the cost of unsigned overflow if you know the sign of either argument (which is fairly common).