If I recall, "07" can do "01" activities. "07" allows you manufacture NON-NFA stuff, but you would need a "SOT" (02) to manufacture NFA, and this would allow you to do (03) activities.
01 FFL- regular firearm sale
07 FFL- manufacture ammo and regular firearm,
and sales
02 SOT- manufacture NFA and sell NFA
03 SOT- sell NFA (class 3 dealer)