Yep. But of course those 12-year-old girls grow and get bigger in the rib cage too. So you're absolutely right that it doesn't *look* as big on a grown woman as on a girl, but I bet somewhere there are teen girls who developed late bemoaning the same thing!

The average bra size in the US is 36C... which means that a LOT of women must be at least a 36 band, and presumably there are as many who are bigger as smaller (since that's how averages work).
My wife is 37 inches under her bust and I'm 39. It's not a huge difference. We can both wear the same 38 bra in some styles, even. Those bra sizes aren't really in inches, or at least if they are the variation is ridiculous; there's no other explanation for how she can fit into anything from a 36 to a 42.
(Heck, I'm anything from a 38D to 42DDD depending on style. Bra size is a bad way of judging measurements.)