Factors of 48: 48, 24, 16, 12, 8, 6, 4, 3, 2, 1
She can make 48 bags with 1 cookie in them.
She can make 24 bags with 2 cookies in them.
She can make 16 bags with 3 cookies in them.
She can make 12 bags with 4 cookies in them.
She can make 8 bags with 6 cookies in them.