Step 1 :This problem is a linear programming problem. The goal is to maximize the income from selling biscuits, subject to the constraints of the oven capacity and the available flour.
Step 2 :The constraints can be represented as follows: The total number of biscuits (jumbo and regular) should not exceed 300. The total amount of flour used (2 oz for each jumbo and 1 oz for each regular biscuit) should not exceed 400 oz.
Step 3 :The objective function (income) to be maximized is \(0.07 \times \text{number of jumbo biscuits} + 0.13 \times \text{number of regular biscuits}\).
Step 4 :By solving this linear programming problem, we find that the optimal solution is to make 0 jumbo biscuits and 300 regular biscuits.
Step 5 :The maximum income from selling these biscuits is \(\boxed{39.00}\).