C Makefile boilerplate

This is the current Makefile that I use with my C projects. Here is what I would like to be reviewed:

-
Reusability - is this Makefile easy to use for multiple separate projects with minimal modification?

-
Organization - is this Makefile organized in a logical and readable way?

-
Dynamics - are there Make features (or compiler options/warnings) that I am not taking advantage of that could make my Makefile more powerful?

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Miscellaneous - what other things could I improve?

`CXX = g++-4.9
CC = gcc-4.9
DOXYGEN = doxygen
CFLAGS = -fdiagnostics-color=always -std=gnu11 -s -c -g3 -O3 -time
WARNINGS = -Werror -Wall -Wextra -pedantic-errors -Wformat=2 -Wno-import -Wimplicit -Wmain -Wchar-subscripts -Wsequence-point -Wmissing-braces -Wparentheses -Winit-self -Wswitch-enum -Wstrict-aliasing=2 -Wundef -Wshadow -Wpointer-arith -Wbad-function-cast -Wcast-qual -Wcast-align -Wwrite-strings -Wstrict-prototypes -Wold-style-definition -Wmissing-prototypes -Wmissing-declarations -Wredundant-decls -Wnested-externs -Winline -Wdisabled-optimization -Wunused-macros -Wno-unused
LDFLAGS =
LIBRARIES = -lcurl
SOURCES = main.c test.c
OBJECTS = $(SOURCES:.c=.o)
EXECUTABLE = test

all: $(SOURCES) $(EXECUTABLE)

$(EXECUTABLE): $(OBJECTS)
$(CC) $(LDFLAGS) $(OBJECTS) -o $@ $(LIBRARIES)

debug: CFLAGS += -DDEBUG -g
debug: $(SOURCES) $(EXECUTABLE)

.c.o:
$(CC) $

Dependencies: right now your makefile will let changes in .h to remain unnoticed.

DEPS := $(SOURCES:.c=.d)

.c.d:
    $(CC) -o %%CODEBLOCK_0%%lt; -MM $(CFLAGS)

-include $(DEPS)

PS: it is highly recommended to remove -c from CFLAGS and mention it explicitly in the .c.o rule.

StackExchange Code Review Q#47188, answer score: 18