The Gnu Make documentation is a good place to start.
http://www.gnu.org/software/make/manual/make.html
All those things are variables people tend to use to make modifying the makefile easy.
INCS is the list of directories to search for include files (headers, etc)
LIBDIR is the list of directories to search for lib files (libbd.a, libm.a, etc)
LIBS is the list of libraries to link into your application's executable (bd, m, etc)
CC is the name of the compiler
CFLAGS is the list of compilation flags (things like -Wall, etc) used to compile object files
LFLAGS is the list of linker flags (often used instead of LIBS)
Hmm... I can't think of others... But I'm sure the Make docs list common variable names.
None of these are written in stone. But they are common.
Hope this helps.