There are a lot of ways to do it. Here is the way I do it.
Get a Master Airscrew balsa stripper. On the bottom outside edge, glue a piece of 1/4" hard wood. This sets a nice bevel. Set the guide for about 3/8" and make the first strip. Now flip the wood over 180 degrees and on the same edge you made the last strip from, make the next. Now you have the proper bevel on each side of the strip. Continue flipping the wood until it is used up.

To plank. I start on the side of the fuse and lay 1 or 2 strips on then switch sides and do the same. Then I go to the top and do 1 or 2 strips on the left top and switch to the right top. Once again I go to the sides and continue that way until the area is done. This keeps the fuse from getting tension in it. For the last strip I make the hole fit the strip. Not the other way around. It is easier to make the hole in the fuse a square ended hole, than it is to sand the strip to fit a pointed hole.

Hope that helps out. I'm sure athers have ways that are just as good or better.
Hans