I cannot find any info on the given model number.
Are you sure that there is not a K between the 7 and the S?

Sounds like a power problem to me so I would start there.
You may be missing Neutral. You get weird readings because the voltage is feeding through parts/components .

Not sure if the unit is hard wired or uses a line cord.
Flip the breaker off and disconnect the unit.
Turn power on and check the power.
L1 to Neutral = 120 volts
L2 to Neutral = 120 volts
L1 to L2 = 240 volts
Neutral to Ground = 0 volts.

Sorry but I cannot find any info on either model numbers that you post so cannot be of much use. Tried here and the Whirlpool site.

The lights probably do not work because they may be controlled by the control board.
[COLOR="Blue"]
the one panel voltage supply transformer was bad so I installed a new one and it must be defective because it does not reduce the voltage as in 120 in and 120 out. also when I hooked up the new transformer
it converted main neutral to 120V[/COLOR]
I do not know what is happening here.
Try measuring the windings.
You should get a resistance for the primary and a resistance for the secondary.
The resistance should be infinite from either primary terminal to either secondary terminal.
I do not know what the exact winding resistances should be.

Another check would be to do a bench test on it.
Hook a line cord to the primary and then plug it in and check the output voltage from the secondary.
If it is OK here then something in the oven is affecting it.

I still think that there is a power problem.

[COLOR="Blue"]
I have no 120V to L1 and
240V bwtwen neutral and L2.
and 120V neutral to ground.[/COLOR]
For this to happen L1 voltage must be on the Neutral line. If Neutral is properly connected this would be a dead short and the breaker would trip.

[COLOR="Blue"]Disconnet panel transformer and neutral reverts back to neutral and L2 back to 120V but also new transformer is supposed to be 120V to 24V[/COLOR]
This is a mystery to me.
perhaps you have two problems.

I will be very interested to find out what the actual problem was once you get it fixed!!!

This gets weirder and weirder.

I just tried both model numbers you gave and both times the Matching Model Numbers section was there so the actual model was not.
Also just a parts listing came up not the part breakdown diagrams.

[COLOR="Blue"]The fact that the new transformer is NOT reducing the voltage may be the key here.Hard to believe its defective or made wrong?[/COLOR]
It is always possible to get a bad part out of the box.

Note that I am not sure you are seeing a real 120 volts.
If it is real then the board is probably toast. I do not think that the power supply on the board could survive 120 volts.

If I understand the above you disconnect one side of the primary and the voltage on the power line is correct.
Does it also do this if one of the secondary lines is disconnected and the primary left connected?
Also what is the voltage across the secondary with it disconnected?

Here are your parts
Parts for KitchenAid KEBC107KSS0 Oven - AppliancePartsPros.com

See the attachment for the tech sheet.

Looking at the transformer label in the parts, it should be 120 volts in (primary) (red wires) (P3-5 to P3-7 on the board) and 24 volts out (secondary) (blue wires) (P3-2 to P3-3 on the board).

well here the good and bad news anyone out there figure this out ? I have new transformer and new panel and stove is still 100% dead. With the P3 transformer plug unplugged I get 24 volt output? I was under the impression it was the transformer that put IN 24V not the panel feeding it to the transformer.When I plug in the P3 circuit My white neutral goes live?
Have 120V in at P1 but 24V out at the oven control lock etc