Create SKU based on options

I've looked at Options Boost and Kit Options but can't figure out if either will do what I need. I don't want to drop the money on each extension unless I know it will cover what I'm looking for.

Basically, every product on my site will have 5 colors and 4 sizes. In order to track the products, I need to be able to generate a SKU based on the combinations of options. These can be set up to append the option SKUs if neeed, but basically it would end up being something like

(product sku)+(option 1 sku)+(option 2 sku).

It could append the option SKUs to the product name as well.

I also need to update the price as the size option is changed, so any extension or workaround has to either have the ability to change the price or not conflict with a mod that does so.

Any help would be appreciated.

Did you ever figure out how to do this?