The blade eats material on every cut
A bandsaw takes between 1.5 and 3 mm per cut. With forty cuts in one bar that is over ten centimetres: enough for the last piece not to fit. Any calculation that ignores the kerf promises a yield the saw cannot deliver. And the cut that separates the last piece from the remnant is a cut too: five pieces are five passes, not four. Here every one is counted.