depending on how much depth you want for the wall, each can of foam can cover about 2x2 feet in a couple inches of expanded foam (just put a single layer, real thin). Each container of pond&stone knockoff foam was about $11, but if you get the great stuff brand it should still be less than $20 a can. If you lived in miami I would say just swing by and grab a bunch of portland cement from me, but its only $10 per 100lb bag
i used eggcrate and zip ties to create a back shelf on my tank, and covered the back of the eggcrate w/ blue painters tape to prevent the foam from expanding back past the eggcrate
I used a 2:1 mixture of coarse aragonite sand to cement, but you can probably get away with more sand if you want more texture or dont have many complex shapes in your background. It turned out well, but I am excited for it to get covered in coraline and other stuff
I let it sit in a big bin of water after letting it harden a bit, and did a complete water change every 3-5days; I didnt use a powerhead or anything like that, just still water. After a few weeks the pH stabilized and I coated the back in silicone and pressed it into place