Oxidative Phosphorylation:The inner membrane of the double mitochondria membrane has electron transport carriers protein complexes on it which make up the electron transport chain.The NADH molecules and FADH2 molecules are oxidised at the first/second ETC complex, causing hydrogen ions to pass into the intermembrane space, and electrons are carried from one ETC complex to from higher energy to lower energy - some of this energy loss is also used to pump hydrogen ions into the intermembrane space.This generates an chemiosmotic gradient between the highly hydrogen ion concentrated intermembrane space and the less concentrated mitochondria cytoplasm.Hydrogen ions are pumped down a channel protein on the inner membrane called ATP synthase down their chemiosmotic gradient.ATP synthase then combines the hydrogen ions with ADP, finally forming ATP.At the final electron transport chain complex, oxygen combines with the electron - oxygen is known as the final electron accepter. This forms water. This is why oxidative phosphorylation can only occur in aerobic respiration.
For every one NADH molecule, 2.5 molecules of ATP are produced and for every one FADH2 molecule, 1.5 ATP molecules are produced. Therefore for every one molecule of glucose, 30-32 molecules of ATP are produced.