I have a question about formula!

Hello beautiful mommies!! I need your assistance. I have a 2 month old baby girl and I am not producing enough breast milk for her anymore so I have been giving her Similac formula. My question is if it's true that once baby starts drinking formula its good for one hour only? And also I make 4 ounce per bottle. My baby has been drinking may be an ounce to half an ounce in one go then she takes breaks. Sometimes she she only takes less than half an ounce and won't drink for 2 hours. So I am going through way too many bottles and feel like I am wasting a lot. Can I get an idea to how much I should be making for her and how many ounces a day she should be drinking in 24 hours. Feedback will be highly appreciated 🙏😊