how many oz should a 2 month old eat in a day

Abby
My baby boy is two months on the 5th
And so far today he has had 16 oz of formula and I wondering how many oz should he be eating cuz he's at least 8-9lbs 
And he's been going through the jumbo can of formula a week if barely that so I'm basicly spending 30 bucks a week on formula