54634 ÷ 8 = 6829 R2
Alright, let's work through the division of 54634 by 8 step by step.

Step 1:
8 goes into 5 0 times with a remainder of 5.
Write down 0 as next digit of of the result. 
Result so far: 0
Subtract 0 from 5 to get 5.
Bring next digit (4) of the dividend behind the 5 and repeat the process: 54 / 8

Step 2:
8 goes into 54 6 times with a remainder of 6.
Write down 6 as next digit of of the result. 
Result so far: 6
Subtract 48 from 54 to get 6.
Bring next digit (6) of the dividend behind the 6 and repeat the process: 66 / 8

Step 3:
8 goes into 66 8 times with a remainder of 2.
Write down 8 as next digit of of the result. 
Result so far: 68
Subtract 64 from 66 to get 2.
Bring next digit (3) of the dividend behind the 2 and repeat the process: 23 / 8

Step 4:
8 goes into 23 2 times with a remainder of 7.
Write down 2 as next digit of of the result. 
Result so far: 682
Subtract 16 from 23 to get 7.
Bring next digit (4) of the dividend behind the 7 and repeat the process: 74 / 8

Step 5:
8 goes into 74 9 times with a remainder of 2.
Write down 9 as next digit of of the result. 
Result so far: 6829
Subtract 72 from 74 to get 2.

The final result is 6829 with a remainder of 2.