Hi,
IMHO, 24000 is bc value and 48000 be value in two-rate police command
(see http://www.cisco.com/en/US/docs/ios/qos/command/reference/qos_n1.html#wp1036698 )
I'm not sure what's the default PIR value if not specified, if I remember correctly, should be PIR=CIR.
You can chose what to do with the traffic exceeding the first token bucket limit (transmit or drop or any other action described in the document mentioned).
You can also decide what to do with traffic exceeding the second token bucket (violate action).
See also http://www.cisco.com/en/US/docs/ios/12_2t/qos/command/reference/qftcmd5.html#wp1082631
for details.
show policy-map
could also halp you what's exaclty configured.
BR,
Milan