554301 divided by 8 
Our goal is to divide 554301 by 8.

Moving on to step 1:
The number 8 fits into 5 0 times, leaving a remainder of 5.
Use 0 as the next digit of our solution. 
Result so far: 0.0
If we take 0 away from 5, we end up with 5.
Grab the next digit (5) from the dividend, add it to 5, then carry on: 55 / 8

Moving on to step 2:
When dividing 55 by 8, we get 6 with a remainder of 7.
The number 6 becomes the next digit in our result. 
Result so far: 6.0
Subtracting 48 from 55 leaves us with 7.
Bring next digit (4) of the dividend behind the 7 and repeat the process: 74 / 8

Advancing to step 3:
74 divided by 8 is 9 with a remainder of 2.
Put 9 as the next digit of the answer. 
Result so far: 69.0
The remainder is 2 after subtracting 72 from 74.
Fetch the next digit (3) from the dividend, attach it to 2 and continue: 23 / 8

Let's proceed to step 4:
8 goes into 23 2 times with a remainder of 7.
The next digit of our result is 2. 
Result so far: 692.0
Subtract 16 from 23 to get 7.
Fetch the next digit (0) from the dividend, attach it to 7 and continue: 70 / 8

On to step 5:
70 divided by 8 is 8 with a remainder of 6.
Write down 8 as next digit of the result. 
Result so far: 6928.0
Deduct 64 from 70 and we're left with 6.
Include the next digit (1) from the dividend after 6, then repeat: 61 / 8

Moving on to step 6:
When dividing 61 by 8, we get 7 with a remainder of 5.
Put 7 as the next digit of the answer. 
Result so far: 69287.0
Subtracting 56 from 61 leaves us with 5.
Since there are no more digits in the dividend, we add a zero to the remainder making it 50, and continue the process.

Advancing to step 7:
8 goes into 50 6 times with a remainder of 2.
The number 6 becomes the next digit in our result. 
Result so far: 69287.6
If we take 48 away from 50, we end up with 2.
Since there are no more digits in the dividend, we add a zero to the remainder making it 20, and continue the process.

Let's proceed to step 8:
20 divided by 8 is 2 with a remainder of 4.
Write down 2 as next digit of the result. 
Result so far: 69287.62
Deduct 16 from 20 and we're left with 4.
Since there are no more digits in the dividend, we add a zero to the remainder making it 40, and continue the process.

Step 9:
8 can be fit into 40 5 times, resulting in a remainder of 0.
The next digit of our result is 5. 
Result so far: 69287.625
If we take 40 away from 40, we end up with 0.
Since there are no more digits in the dividend, we add a zero to the remainder making it 0, and continue the process.

On to step 10:
The number 8 fits into 0 0 times, leaving a remainder of 0.
The next digit of our result is 0. 
Result so far: 69287.625
Subtracting 0 from 0 leaves us with 0.
Since there are no more digits in the dividend, we add a zero to the remainder making it 0, and continue the process.

Advancing to step 11:
The number 8 fits into 0 0 times, leaving a remainder of 0.
Record the quotient 0 as the next digit in the result. 
Result so far: 69287.625
Subtracting 0 from 0 leaves us with 0.
Since there are no more digits in the dividend, we add a zero to the remainder making it 0, and continue the process.

The final outcome is 69287.625, with a leftover of 0.0.