Skill cycles for morph are generally very short, and it takes many such cycles to complete a typical morph. Ep is deducted per skill cycle. If I have my facts right (no guarantee), one 'point' of production is added per cycle, so the Ep required to finish a morph is equal to the produced units production 'time' multiplied by the skills ep cost.
I will attempt shortly to write up an explanation of skill cycles & commands and the various unit/skill parameters that affect such things, so that people who prefer numbers can figure this all out with less trial and error and more planning, but it may take a while to compose, knowing how one command works doesn't necessarily give you much insight into how another command might work.