We will discuss 2 applications to get the job done: Disc Utility and cdrecord.
This application should be installed with OSX, offering a slightly less intuitive interface, but the same end result:
This ISO contains a patch for a boot issue on the newer model PS3.
A favorite among UNIX command line users, cdrecord offers a quick, simple means of burning CDs. While you may have cdrecord already installed with OSX, search Google.com for [cdrecord +osx] and instructions.