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The height of a pallet is such that a pallet truck or forklift truck can put their blades underneath and lift the pallet. From memory it could be between 6" to 9" high measuring from the ground.
40inch = 3.33 foot 48 inch = 4 foot so 4 x 4 x 3.33 = 53.328 or 53 and a third cubic feet - as you have three measurements it needs to be in cubic feet either that or the pallet square footage is based only on 40 x 48 3.33 x 4 = 13.32 square feet
Volume = 40" * 48" * 48" = 40/12 ft * 4 ft * 4 ft = 10/3 ft * 4 ft * 4 ft = 160/3 cubic ft = 53.33... cu ft
4*3 = 12 square feet
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