[guided]The hypothesis that $f$ has bounded variation means exactly that the total variation
\begin{align*}
V:=\operatorname{Var}_{[a,b]}(f)
\end{align*}
is a finite real number. By definition, $V$ is the supremum of all sums
\begin{align*}
\sum_{i=1}^{n}|f(t_i)-f(t_{i-1})|
\end{align*}
over finite partitions $a=t_0<t_1<\cdots<t_n=b$ of the interval. Each such sum is nonnegative, so $0\le V$.
First handle the endpoint edge case. If $a=b$, then $[a,b]=\{a\}$. Hence every $x\in[a,b]$ satisfies $x=a$, and therefore
\begin{align*}
|f(x)|=|f(a)|\le |f(a)|+V.
\end{align*}
This proves both boundedness and the sharper stated estimate in the singleton case.
Now assume $a<b$, and let $x\in[a,b]$ be arbitrary. We prove the key estimate
\begin{align*}
|f(x)-f(a)|\le V.
\end{align*}
If $x=a$, this is
\begin{align*}
|f(x)-f(a)|=0\le V.
\end{align*}
If $a<x<b$, use the partition $P=(a,x,b)$ of $[a,b]$. Since $V$ is the supremum of all variation sums over partitions of $[a,b]$, the variation sum for this particular partition is at most $V$:
\begin{align*}
|f(x)-f(a)|+|f(b)-f(x)|\le V.
\end{align*}
The second term is nonnegative because it is an absolute value, so removing it from the left-hand side gives
\begin{align*}
|f(x)-f(a)|\le V.
\end{align*}
If $x=b$, use the partition $P=(a,b)$ of $[a,b]$. The definition of total variation gives
\begin{align*}
|f(b)-f(a)|\le V.
\end{align*}
Thus the estimate $|f(x)-f(a)|\le V$ holds for every $x\in[a,b]$.
Finally apply the triangle inequality in $\mathbb R$ to the decomposition $f(x)=f(a)+(f(x)-f(a))$. For every $x\in[a,b]$,
\begin{align*}
|f(x)|=|f(a)+(f(x)-f(a))|\le |f(a)|+|f(x)-f(a)|.
\end{align*}
Using the estimate just proved, we obtain
\begin{align*}
|f(x)|\le |f(a)|+V.
\end{align*}
The number $|f(a)|+V$ is finite because $f(a)\in\mathbb R$ and $V<\infty$. Therefore $f$ is bounded on $[a,b]$, and the displayed inequality is exactly the claimed bound with $V=\operatorname{Var}_{[a,b]}(f)$.[/guided]