Standing on First still awarded two bases.

[CoachJD]

So if a throw goes out of play untouched it's two bases from the time the throw left the fielders hand but if there's contact with the glove before it goes out of play it's one base from the time of contact?

No. An overthrow can hit something (a glove, a player, a base, etc) and it's still a 2-base award. A throw glancing off a glove, like in RAD's play, is a 2-base award. The only question (and I'm not 100% clear on it still) is where was the runner when the ball was thrown, as that's how you determine where she ends up.

The 1 base award requires possession, such as a player losing control on a tag attempt.