Maintaining Status while applied for a COS

I am on F1-OPT and my wife on F2 dependent. MY employer applied my H1B on May 7th and got the case number by 20th May. He forgot to apply my wifes H4 along with my H1. He wants to apply H4 now. My question is that

  1. How long will it take for the F2-H4 COS to be approved?

  2. What If my H1B is approved in 1 months time and my wife’s COS is going to take 2 more months. Will she be out of status as soon as i get my H1B approved.

IF Yes, What are my options

  1. 2-3 months

  2. Your H-1 will become effective from Oct 1. So as long as her COS gets approved by Oct 1, she should be fine

Thanks a lot for the reply Saurabh