Sample Rate Conversion between 32K and 44.1K I would like to know what are possible/typical efficient implementations (preferably in fixed-point DSP) of synchronous sample rate conversion between 32KHz and 44.1KHz (audio applications). Also, I'd appreciate if you can possibly share DSP utilization (MIPS, code and data memory).

Thanks!

Notes: Just wanted to make my question a bit more clear:


By "synchronous" I meant 32K and 44.1K sampling frequencies are on the same clock domain. 
I don't think straight forward poly-phase implementation is a good idea here. It is very efficient for conversion between e.g. 32K and 48K, but upsampling and downsampling factors are somewhat large for 44.1K and 32K
I had an idea to do the sample rate conversion at two steps: first, convert 32K samples to 44K (upsample by 11 followed by downsample by 8, also suggested by Hilmar in the answers section here). Then do 44K to 44.1K conversion using some kind of fractional sample rate conversion (Farrow, all-pass filters, fractional phase interpolator, etc.). I used 7th order Farrow structure but I'm not quite satisfied with distortion and harmonic levels.
My application is real-time
The standard way of doing this is a poly phase filter. Unfortunately it's not straight forward and the devil is in the details.


You need to determine cutoff frequency, number of phases, length of filter, and (to a lesser extent) shape of filter
These are typically derived from your specific requirements: what's your allowable bandpass ripple, stop band attenuation, residual aliasing, sine wave modulation, up to what frequency, etc. 
How exact does your final sample rate need to be? If you can tolerate a quarter percent of frequency error you can approximate the ratio as 8/11. If it needs to be better than that, you may just as well go with an asynchronous converter
MIPS and memory footprint depend very much different factors. Number of channels to convert,  $C$, filter length , $N$, and number of phases $P$. Storage requirements are roughly $(P+C) \cdot N$. MIPS for synchronous are $C \cdot N$ multiply/adds plus some overhead for phase indexing. 
Asynchronous will be more, maybe $(C+2) \cdot N$, depending on how exactly phase interpolation is done. 
It works well with fixed point