Order of operation, the parentheses are done first, then it's left to right as encountered, since the rest is multiplication and division. There's no rule to indicate that the 2*12 should be first, or that they should both be "under" the 48 as a divisor.
Had there been exponents, those would come before multiplication and division, and had there been addition and subtraction, those would be done last. Since the addition is inside the only set of parentheses it's done first.
48 divided by 2, then times 12.
24 times 12
288