Yup

Phrase what’s cooking? “what’s up, what’s going on” is attested by 1942. To cook with gas “do well, act or think correctly” is 1930s jive talk.

The expression “NOW YOU’RE COOKING WITH GAS” has bobbed up again — this time as a front page streamer on the Roper Ranger, and as the banner line in the current advertising series of the Nashville (Tenn.) Gas and Heating Company, cleverly tying gas cooking to local food products and restaurants. “Now you’re cooking with gas” literally took the gas industry by the ears around December 1939 — Remember? — when it flashed forth in brilliant repartee from the radio programs of the Maxwell Coffee Hour, Jack Benny, Chase and Sanborn, Johnson Wax, Bob Hope and sundry others. [American Gas Association Monthly, vol. xxiii, 1941