I ran an article in CLW last year detailing how to make a profile fuselage using composite construction. Balsa, a bit of ply, hardwood motor mounts, and epoxy/glass for the front end. 1/16 in. balsa and 1 lb white foam from the spar back. jl Cover the balsa with plastic film firmly ironed down and you have an easy to build profile that is very light and stiff. A thin layer of urethane glue(Gorilla glue or similar) or a very thin layer of epoxy is plenty to glue the sides to foam. You can even use spray on contact cement, but you have to mask it to keep it off the outline wood. The outline can be as thin as 1/16 in. if you are willing to round the edges of the fuse and tape the outline in place while the glue dries. Otherwise, 2-3 laminations of 1/16 in. strip are plenty. All the strength comes from the sides. And make the fuse 5/8-3/4 in. wide, as sleepy says. The extra thickness makes even the lightest profile astonishingly stiff.
The foam in place insulation foams end up to around 2-3 lb/cu.ft. and will add an excessive amount of weight to the tail end. Same thing using 1/64 ply for the sides. It is way heavier and stronger than it needs to be.